Tuesday, 29 July 2014
Last updated 13 hours ago
Aug 23 2007 | 1:24am ET
The hedge fund bloodbath triggered by the collapse of the U.S. sub-prime mortgage market is being keenly felt on the other side of the Atlantic, especially in the all-important long/short equity strategy.
Eighteen of 20 major European long/short funds were down through Aug. 10, according to Financial News. During the same period, a slew of major U.S. quantitative hedge funds, including funds run by Renaissance Technologies, Goldman Sachs, AQR Capital Management and Tykhe Capital, reported big losses, as well.
Long/short funds run by Phylon Investment Advisers and Odey Asset Management were the lucky ones in the first 10 days of August: They returned 2.54% and 1.15%, respectively.
As for the losers, they ranged from down performance of 0.7% for Cazenove Capital Management’s fund to 6.12% for Charlemagne Capital. Other notable losers include GLG Partners (4.4%) and Lansdowne Partners (1.74%).
Meanwhile, back in the New World, Long Island, N.Y.-based Renaissance Technologies has staged a remarkable August comeback from a dismal start to the month. Down 8.7% for the month through Aug. 10, the firm’s Renaissance Institutional Equities Fund is now just 1.35% in the red, Reuters reports.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…