Tuesday, 21 October 2014
Last updated 3 hours ago
Sep 19 2012 | 12:47pm ET
Hermes Fund Managers has agreed to sell its pioneering activist hedge fund unit to RWC Partners.
RWC will pay a "small" amount for Hermes Focus Asset Management, which manages US$800 million. The decision to part ways with the 14-year-old unit came after the decision that "these funds no longer fit with our business," Hermes CEO Saker Nusseibeh told the Financial Times, and was driven by HFAM's dozen-strong team.
The acquisition will boost RWC's assets to about US$5 billion. RWC CEO Peter Harrison, who will take over at HFAM from David Pitt-Watson, told the FT he hopes to boost the unit's assets to US$2 billion in relatively short order.
HFAM was set up by Hermes founder Alastair Ross-Goobey in 1998.
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 ...