Thursday, 26 March 2015
Last updated 51 sec ago
Aug 2 2007 | 8:21am ET
The fear and loathing—and hedge fund collapses—surrounding the sub-prime mortgage market have occupied much of the industry’s attention, but the declining equities market also put the hurt on hedge funds during the month of July.
The losers include some of the biggest names in the industry. Tudor Investment Corp.’s $8.9 billion Raptor Fund was battered by plunging stock prices, falling by 9% last month through July 27; it is down 2.9% year-to-date after the decline. The Greenwich, Conn.-based firm’s flagship fund, the $10.3 billion Tudor BVI Fund, didn’t escape unscathed, either: It fell 3.1% on the month, though it is still up 4.6% on the year. The Man Group, the world’s largest publicly-listed hedge fund manager, saw its flagship AHL strategy lose 6.7% last week, Financial News reports. And Greenwich-based SAC Capital’s main fund fell 1% last month, but its year-to-date return remains a healthy 14%.
The news on those giants comes as the $11 billion New York hedge fund manager Caxton Associates felt compelled to send a letter to investors denying rumors that it was in serious peril of collapsing. Its flagship did fall by 3% in July, but is still up more than 3% on the year.
Others, meanwhile, are laughing all the way to the bank on the sub-prime mortgage market fiasco. New York-based Harbinger Capital Partners returned a whopping 17% last month, and is up better than 40% year-to-date, thanks to its bets against sub-prime mortgages. Citadel Investment Group, most recently seen picking clean the corpse of collapsed Boston hedge fund Sowood Capital Management, was flat last month, and is up 17% year-to-date.
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…