Wednesday, 1 April 2015
Last updated 8 hours ago
Nov 21 2013 | 10:48am ET
This year hasn't exactly been a cakewalk for hedge funds, but one prominent manager is bracing for worse in 2014.
Next year will prove "a more challenging year" than this one, according to Deepak Narula. The Metacapital Management chief warned the Reuters Global Investment Summit that there was more volatility on the horizon, and that the days of regular double-digit returns are over.
Metacapital itself rose 40% last year, but, "absent some large shock to the system, those returns are history." Metacapital's flagship is up only 8% this year, although a new fund betting on rising interest rates has jumped 14%.
"When valuations are high, risk is much greater," he said yesterday. "Throw in changes to the Fed and the Fed's large footprint in the financial markets, which has to change."
"Bonds outright, I'd be even more scared about than equities," Narula continued.
Still, all hope is not lost: Narula said that mortgage bets offer promise in 2014.
"All else the same, mortgage rates have to go up," he said. "The securities that benefit from that are those mortgage derivatives." Narula also said that commercial mortgage-backed securities are attractive.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…