Sunday, 28 December 2014
Last updated 36 min 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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.