Saturday, 20 September 2014
Last updated 1 day ago
Sep 4 2007 | 11:30am ET
Denver-based Geronimo Financial Asset Management board of trustees last month voted to close the firm’s trio of hedge funds.
The Geronimo Multi-Strategy, Sector Opportunity and the Option & Income funds are “no longer pursuing their respective investment objectives,” according to the firm’s Web site. “All holdings in the Funds’ portfolio are being liquidated, and the proceeds will be invested in money market instruments or held in cash. Any capital gains will be distributed as soon as practicable to shareholders…”
A call to founder David Prokupek was not returned before press time.
The funds launched in January 2006 and employ equity long/short, option writing and market neutral strategies to beat its benchmark, the Merrill Lynch 90-Day T-Bill Index. Although the firm didn’t give any reasons for shuttering its hedge funds, a quick review of their year-to-date performances may explain their demise. Through August, the Geronimo Multi-Strategy Fund (Class I) is down 9.55%, the Geronimo Sector Opportunity Fund (Class I) (GPSIX) is down 5.28% and the Geronimo Option & Income Fund (Class I) (GPOIX) is down 2.44%.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
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