Tuesday, 23 September 2014
Last updated 53 min 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.
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.