Wednesday, 24 September 2014
Last updated 14 hours ago
Jan 3 2014 | 3:07pm ET
A former HSBC Holdings banker rang in the new year with a new hedge fund.
Roshan Padamadan's Luminance Global Fund was set to debut yesterday with about US$2 million in initial assets, Bloomberg News reports. The former product specialist at HSBC hopes to double that number within three months.
Singapore-based Padamadan said Luminance will seek out companies "where the business models survive in almost every scenario."
"In this day and age, macroeconomic developments are particularly hard to call," he told Bloomberg. "We don't want companies which will swing with macro events. We are looking for companies which will be fine irrespective of macro."
Padamadan set up Luminance with Sunand Razu and Swiss-Asia Financial Services, which will provide back-office services.
Luminance will charge a relatively high performance fee of 25%. But the firm will not collect any of it until after three years, and will charge no management fee.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.