Tuesday, 22 July 2014
Last updated 53 min ago
Jul 18 2012 | 10:17am ET
CQS's fee earnings fell by more than a third last year, as most of its hedge funds suffered losses.
The London-based hedge fund took in US$111 million in fee income in 2011, compared to US$174.8 million in 2010, according to an accounts filing. That's a 36.5% decline.
The drop isn't a surprise: CQS' largest funds lost ground last year, with its Diversified Fund, which invests in other CQS strategies, dropping 3.4%. The firm's Directional Opportunities Fund took it even harder, dropping 10.4%.
This year, things are looking brighter for CQS. All seven of its hedge funds are up on the year, ValueWalk reports.
Diversified returned 5.7% in the first half (0.9% in June) and Directional Opportunities 17% (3.9% in June). And CQS's flagship ABS Fund is up 5.5% on the year, despite a 0.7% decline in June. Its Convertible and Quantitative Strategies Fund is up 5.7% in the first six months of the year after a 1.1% surge in June.
The firm's year-old European distressed fund is up 1.8% in 2012 and its Asia fund 1.7% (0.5% in June). Its long/short credit fund is up slightly.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…