Monday, 20 October 2014
Last updated 1 hour ago
Jul 18 2012 | 2:05am ET
The Man Group has closed its acquisition of US$8 billion fund of hedge funds FRM Holdings.
The consummation of the US$142.8 million deal was announced yesterday. It makes Man, already the world's largest hedge fund firm by some measures, the largest fund of hedge funds manager outside of the U.S.
The combined Man-FRM fund of funds business accounts for US$19 billion in assets.
The deal was first announced in May. Man agreed to pay up to US$82.8 million in cash, with up to US$60.8 million to come over the next three years from performance fees.
Man said the acquisition would cause no material change to its cost base and could result in savings of US$45 million per year.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...