Friday, 26 December 2014
Last updated 1 day ago
Jul 27 2007 | 2:02pm ET
Managing Harvard University’s money apparently doesn’t necessarily make you smart enough to dodge the sub-prime shrapnel.
Sowood Capital Management—founded by former Harvard Management Co. money manager Jeffrey Larson—is down 10% year-to-date due to big bond losses over the last two months, the Wall Street Journal reports.
Unlike other hedge funds burned by the credit crisis, Boston-based Sowood seems to be in good shape. The firm, which Larson set up after the end of his extremely successful stint at Harvard in 2004, has been able to meet its margin calls and does not face any redemptions until the end of 2008. It is in no danger of shutting down, the Journal reports.
Still, the fund, which trades both stocks and bonds, has sold some positions to raise cash for margin calls, including positions in merger-related shares.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.