Tuesday, 21 October 2014
Last updated 9 hours ago
Feb 6 2013 | 12:43pm ET
Aisling Analytics' Merchant Commodity Fund has slashed its staff, its assets under management having plummeted almost 90% over the past two years.
The US$170 million hedge fund laid off five of its 15 employees last month, with cuts in both London and Singapore, Bloomberg News reports. Co-managers Michael Coleman and Doug King would not say who go the ax, but traders and analysts were among those let go. One of the employees moved to RCMA Commodities Asia, a physical-trading business run by Coleman and King. All told, Merchant Commodities now has two traders working with King, who serves as chief investment officer.
"We decided to get the headcount to be in line with the assets," King told Bloomberg. "We are committed to make it work."
Merchant Commodities managed as much as US$1.56 billion two years ago. But the fund lost 29.9% in 2011 and 7.6% last year, sending many investors to the exits.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...