Wednesday, 1 October 2014
Last updated 15 min ago
Jul 18 2007 | 11:27am ET
John W Henry & Co’s overall performance picked up last month with six out of eight programs producing positive returns for June.
JWH’s biggest winner was its JWH Global Analytics program, which gained 10.13% for the month, while its Dollar program trailed the rest of the portfolio, down 0.9%.
The firm’s long-term trend following programs held fast and locked in profits through “market-dislocating events” including terrorism incidents in the U.K. and the meltdown in the U.S. subprime market, penned Kenneth Webster, COO, in his monthly investor letter.
“JWH’s systematic approach has profited over the past three months since the equity induced dislocation of financial markets that occurred towards the end of the first quarter, which we suggested might be a precursor for a major shift in market trends,” wrote Webster. “While discretionary funds and shorter-term trend-followers may have been forced out of profitable positions due to instability in the market, our clients were rewarded due to our programs’ longer-term focus.”
However, the firm’s solid performance could not offset losses in its total asset under management, which took a nosedive from a previously reported $1.2 billion in May to some $530 million in June because of investor redemptions.
A call made to Webster seeking comments was not returned by press time.
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…
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