Monday, 20 October 2014
Last updated 8 hours ago
Jun 4 2013 | 11:39am ET
UBS' hedge fund unit will lay off more than one-third of its equity long/short team.
UBS O'Connor plans to slash 16 positions from the fundamental long/short team, which currently employs 46 of its 80 employees. Most of the layoffs will be in the U.S., and are not related to the bank's plan to slash 10,000 jobs.
The layoffs were first reported by Dealbreaker.com.
The US$5.7 billion hedge fund also plans to triple the size of its corporate credit relative-value team to 15 members.
"We regularly review our business mix to address market changes and focus our resources where we see the most attractive risk-adjusted investment opportunities," UBS spokewoman Megan Stinson told Bloomberg News. "We are actively expanding in areas that marry strong investor demand with our talented investment professionals."
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 ...