Wednesday, 22 October 2014
Last updated 14 hours 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.
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 ...