Monday, 20 October 2014
Last updated 5 hours ago
Oct 29 2013 | 1:04pm ET
It is getting harder to launch a hedge fund—but those that manage the feat are doing so on much stronger footing.
Last year, only 86 European offshore hedge funds debuted, according to EuroHedge, the lowest number since the magazine began keeping track. But those that did were bigger, with an average size in excess of US$100 million, more than twice the average size—less than US$50 million—a decade ago.
Last year's five biggest launches showed that a strong pedigree could be the key to success, especially if that pedigree comes with a check, as well. Four of the five largest—Hengistbury Investment Partners, Naya Management, Stone Milliner Asset Management and Verrazzano Capital Partners, were launched by veterans of The Children's Investment Fund, Moore Capital Management and Gartmore Group. Moore also provided US$800 million to Stone Milliner to help it get off the ground, while Naya's background convinced the Blackstone Group to seed it.
The other largest European launch of the year was Frere Hall Capital Management, headed by former Goldman Sachs oil trader Taimur Hassan.
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 ...