Friday, 28 November 2014
Last updated 1 day ago
Jun 18 2012 | 12:01pm ET
Just a year after beginning to offer retail investors access to one of its top hedge fund managers, the Man Group is getting ready to put the brakes on Pierre Lagrange’s European stock fund.
The firm said it would soft-close the fund when it hits US$1 billion in assets and hard-close it at US$1.25 billion. Lagrange’s GLG European Equity Alternative Fund debuted in July and has already garnered US$760 million in assets.
GLG co-founder Lagrange’s co-manager, Simon Savage, admitted to the Financial Times that he and Lagrange did not expect “this point would arise within such a short space of time.” But the fund will begin turning away large allocations at US$1 billion to “ensure that the fund retains the ability to meet its capital growth/capital protection objectives.”
Man plans to reopen the fund if and when capacity becomes available.
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...