Thursday, 18 December 2014
Last updated 14 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.
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.