Friday, 28 November 2014
Last updated 4 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.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...