Tuesday, 22 July 2014
Last updated 4 hours ago
Jan 31 2013 | 1:03pm ET
BTG Pactual has closed its emerging-markets macro fund, which rose 28% last year, to new money.
The Global Emerging Markets and Macro Fund has grown to US$5 billion since its 2009 launch. The fund has already turned down about US$500 million from investors since late last year, Reuters reports.
"2013 is the year when we need to prove we can drive with a better car (before we take on more assets," Antoine Estier, the fund's co-chief investment officer told Reuters. BTG asset management chief said that the fund would remain closed for an "undefined period," but that the firm might reopen it if it maintained its performance.
It's unclear how confident the fund's team is that it can: Estier said that this year does not look as "exciting" as last, although he has seen some opportunities, notably in Spanish and Italian bonds, which he says will continue to lose yield.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…