Tuesday, 23 September 2014
Last updated 3 hours ago
Dec 4 2012 | 1:13pm ET
Sweden's Shepherd Energy is quitting oil and emissions trading, which have cut into its returns this year.
The firm's energy hedge fund boasted gains of 8.6% on its electricity book. But that figure fell to 1.22% when losses on oil and emissions are factored in.
The firm plans to focus its attention on the Nordic power market.
"Our best performance comes from trading power," fund manager Arne Oesterlind told Bloomberg News. "Excessive price movements have prompted us to withdraw from trading oil, while narrow price ranges and too little volatility for emission permits have caused us to pull out."
"Nordic power is where our team's competence is, and we are more likely to achieve our return goals"—12% to 15% annually—"now that we focus on electricity, including Germany," Oesterlind explained.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.