Wednesday, 22 October 2014
Last updated 7 hours ago
Jul 12 2012 | 10:54am ET
One of the hedge funds that harpooned JPMorgan Chase's "London Whale" has launched a credit hedge fund.
Hutchin Hill Capital rolled out its Liquid Credit Strategy this month with $100 million from a British pension fund. The new fund employs the same long/short credit strategy that is one of the seven that make up its flagship multi-strategy fund.
"Given the continued uncertainty around the Spanish banking sector bailout and [Prime Minister Mario] Monti's government in Italy, we are looking to take advantage of panicked short covering into [last month's European] summit by selectively entering new shorts," Hutchin Hill said in a July 4 letter to investors.
The long/short credit strategy will remain a part of the Hutchin Hill Capital Master Fund. The new Liquid Credit Fund plans to raise only a "limited amount of capital" over the next few months, Dow Jones Newswires reports.
The strategy has returned 2.52% this year after adding 0.1% last month.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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