Wednesday, 27 May 2015
Last updated 5 hours ago
Sep 18 2012 | 1:05pm ET
Sloane Robinson's restructuring has reached its upper echelons, as two top executives plan to redefine their roles and the firm plans to restructure one of its largest hedge funds and shutter another.
In a letter to investors, firm founders Hugh Sloane and George Robinson and chief investment officer Richard Chenevix-Trench announced several major changes. Sloane is to step down as CEO, handing those duties to investor relations chief David Gale, and Chenevix-Trench's two hedge funds are to see major changes in advance of a planned leave of absence for the CIO.
After handing off the CEO's reins, Sloane will focus on managing Sloane Robinson's international portfolio. The London-based firm will also rejigger Chenevix-Trench's two portfolios, which account for more than half of Sloane Robinson's US$2.5 million in assets under management, closing his Asia fund and transforming his emerging markets fund into a global opportunities portfolio, Financial News reports.
Investors in the Asia fund will be permitted to move their money to Chenevix-Trench's other fund, which will offer "a more diversified global mandate through which he can express his investment style to maximum effect."
Following that switch, Chenevix-Trench will then step down to "recharge," beginning in March. Until he returns in the late summer of next year, Chenevix-Trench will continue to advise Sloane Robinson but will have no day-to-day role in the firm, which he joined 17 years ago.
In Chenevix-Trench's absence, Ed Butchart will serve as CIO. Butchart will also co-manage a new emerging markets stock fund that Sloane Robinson plans to replace the Chenevix-Trench offering; it will be seeded with partner capital.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…