Tuesday, 5 May 2015
Last updated 8 min ago
Aug 10 2007 | 6:30am ET
As the hedge fund world waits for and wonders about what horrors August may bring, the general consensus is that July wasn’t so bad—for most hedge funds.
The latest bringer of not-so-bad news is the Greenwich Global Hedge Fund Index, which gained 0.13% last month, easily eclipsing the Standard and Poor’s 500, which dropped more than 3%. Year-to-date, the Greenwich index is up 7.98% through July.
“While difficult to predict the full market impact associated with absorption of sub prime risks, this month’s hedge fund performance indicates the impact will likely be less significant than feared,” notes Ben Rossman, general manager of Greenwich Alternative Investments.
“Of the funds that Greenwich tracks, those with direct exposure to such risks – inaccurate pricing of CDOs and other opaque instruments, tighter credit terms, potential reform to rating agency operations and the like – are estimated to represent less than 10% of the hedge fund universe.”
Greenwich’s Investable Hedge Fund Index wasn’t as lucky as its flagship partner: It fell 0.74% on in July, and is now up 5.39% year-to-date.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…