Saturday, 23 July 2016
Last updated 23 hours ago
Aug 9 2012 | 1:42pm ET
Hutchin Hill Capital is setting up shop at the site of one of its biggest victories.
The New York-based firm is opening an office in London. Hutchin Hill hopes to be operational in the British capital in six months, pending Financial Services Authority approval, ValueWalk reports.
Hutchin Hill returned 1.73% in the second quarter, erasing its first-half loss and leaving the fund up 0.8% on the year. Some of that gain can be attributed to Hutchin Hill’s credit-default swap trades against JPMorgan Chase’s huge CDS index bets, made by the bank’s trader Bruno Iksil, known as the “London whale.”
Hutchin Hill exited its bets against JPMorgan at the end of June.