Saturday, 23 May 2015
Last updated 12 hours ago
May 30 2012 | 12:52pm ET
Add another Asian hedge fund to the scrap heap.
Singapore's Novatera Capital has closed its doors and returned its capital to investors. The long/short small-cap equity hedge fund had lost about 16% last year.
Founder Robert Lewis told Reuters that he returned the last of the money about two weeks ago. He added that he is working on other projects now—including a class on value investing—that will not involve his managing money.
The former JPMorgan Chase executive had managed about US$90 million at Novatera, down from a peak of about US$130 million.
The Asian hedge fund industry continues to contract this year, after seeing 140 funds close their doors last year.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…