Saturday, 28 November 2015
Last updated 18 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…