Friday, 27 March 2015
Last updated 4 hours ago
Aug 17 2007 | 11:47am ET
No stranger to drawdowns, John W. Henry & Co. last month saw its winning streak snapped at three and chalked up another one on the loss column. The firm’s Financial & Metals portfolio “led” the way, dropping 11.66%, followed by the International Foreign Exchange program, which was down 8.01%.
Not unlike its hedge fund peers, the firm’s programs were victimized by “concerns about strains in the U.S. housing market, exposure to sub-prime mortgages and excess leverage in the financial system resurfaced prompting investors to reduce positions in ‘risky assets,’” according to Kenneth Webster, president and chief operating officer, in his monthly investor letter.
“Trends in global bonds and equities were halted in July when problems in the U.S. housing and sub-prime mortgages spread throughout the global financial markets,” Webster penned. “This contagion led to a broad-based reduction in risk. Diversifications and risk management techniques helped to minimize losses in this difficult environment.”
Webster also optimistically scribed, “It is hard to know where the markets go from here but it is quite possible that elevated levels of volatility will persist in certain markets, which could be a positive development for JWH’s style of trading.”
The firm’s assets under management currently stand at $521 million.
It’s not been a good month or so for JWH founder John Henry: The fortunes of the Boston Red Sox owner’s investments seem strangely correlated with those of his baseball team. For months comfortably ahead of their struggling rivals, the New York Yankees, the Sox have seen their once-double-digit lead over the Bronx Bombers cut to—Holy Cow!—just five-and-a-half games.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…