Saturday, 25 October 2014
Last updated 1 day ago
Dec 13 2013 | 5:29pm ET
Appaloosa Management, which is enjoying one of its best-ever years in the market, is set to return some money to investors, the latest prominent hedge fund to do so.
Appaloosa, whose assets under management have soared above $20 billion, will return between $1.5 billion and $2 billion, Institutional Investor reports. The Short Hills, N.J.-based firm regularly makes such distributions to investors; this year will be the third year in a row it has done so.
Baupost Group and Third Point are also making distributions this year.
Appaloosa's flagship Palomino Fund is one of the rare hedge funds this year to be beating the broader markets—and it is doing so handily. The fund is up 37.86% this year after rising 4.86% in November, Forbes magazine reports, while the Standard & Poor's 500 Index is up 29.1%. The average hedge fund is up in the mid-to-high single digits in 2013.
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…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.