Tuesday, 1 December 2015
Last updated 1 hour ago
Sep 10 2007 | 3:26pm ET
BlueCrest Capital Management is shuttering its equity market neutral fund in the wake of August losses. The $500 million fund fell 5.4% in August and is down 8.2% year-to-date. The firm blamed “bizarre” market conditions for the trouble, but concluded that the alternatives to shutting the fund down “were unfair to everybody and not sensible given the current market conditions,” a firm spokesman told Financial News.
The firm, one of Britain’s largest with $12 billion in assets under management, said it doesn’t expect the closure to greatly impact its bottom line, with some 80% of the doomed fund’s money going into other BlueCrest funds—all of which, despite an August drop, remain in positive ground year-to-date.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…