Sunday, 29 March 2015
Last updated 2 days ago
Oct 31 2012 | 11:45am ET
Coupland Cardiff Asset Management has closed its event-driven fund after losing its only investor.
The London-based, Asia-focused manager said the CC Asia Advantage Fund had just US$80 million in assets under management at the time of its demise, a tiny fraction of the firm's US$1.2 billion. And while the five-year-old fund did very well in its early days, returning 22% in 2009, recent years have not been so kind. The fund lost 5.98% last year and is down 3.6% this year, as it and other Asia-focused event-driven funds struggle with a paucity of mergers and acquisitions activity in the region.
CC Asia Advantage has been a single-investor fund since 2010. But, CEO Richard Cardiff told Asian Investor, "the investor decided to re-allocate their assets internally and made some allocation shifts away from event-driven, so the fund was closed down and the money returned to the investor."
While the time may not be right to re-launch the strategy—Asian M&A is down 37.1% this year—the firm has retained CC Asia Advantage's manager, Jinesh Patel, and may return to the event-driven space in the future.
"We're always open to examining avenues where we think investors will see decent returns," Cardiff told AI.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…