Tuesday, 30 September 2014
Last updated 5 hours ago
May 14 2013 | 11:20am ET
Big losses led to a big pay cut for Clive Capital's top managers—but they are unlikely to win any sympathy.
The London-based commodities hedge fund, which lost 8.8% last year, paid its three partners a total of US$39.2 million in the year-ended in February, according to regulatory filings. The trio received more than twice as much in the year ended February 2012, splitting US$82.5 million.
Clive's highest-paid partner—presumably founder and lead manager Christian Levett—was paid US$33.5 million down from US$60.8 million in the year-earlier period, and down from US$135 million in the 11 months prior to that.
Clive also disclosed that it paid its 11 staffers $3.5 million during the fiscal year and gave US$553,000 to charity.
After two losing years and a series of redemptions that cut US$600 million from its asset base, Clive announced fee reductions earlier this year.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...