Sunday, 19 October 2014
Last updated 2 days ago
Jul 19 2012 | 11:13am ET
The Man Group has promised its investors a US$0.22 dividend. Morgan Stanley isn't so sure.
A research note from the investment bank said it expects that Man will make the payment. But it warned the world's largest listed hedge fund firm could cut it to as little a 4.5 cents.
Why? Because, Morgan Stanley said, paying out the dividend as planned would cost US$300 million, and Man's net cash position at the end of March, when it announced the dividend, was just US$250 million.
"An assessment of Man as an investment remains fraught with challenges," Morgan Stanley wrote in the note, which was reported by Financial News. The bank said the poor performance of its flagship AHL strategy, distribution problems and high internal costs are all worrisome. What's more, the firm needs to prepare for its structured products business to shrink by more than half. Those portfolios account for about 30% of Man's revenue.
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 ...