Friday, 19 September 2014
Last updated 13 hours ago
Jan 8 2014 | 1:30pm ET
Noted activist hedge fund The Children's Investment Fund Management posted its best-ever year in 2013, with its flagship fund rising 47%.
The US$7.9 billion Master Fund has never done so well since its inception in 2003.
TCI's returns were fueled by its investments in the British Royal Mail, which went public last year, News Corp. and European Aeronautic Defense and Space, the parent of airplane-maker Airbus.
TCI is named for its charitable practice of donating a share of its fees to a foundation. But The Children's Investment Fund Foundation won't get its piece of the record action for last year; TCI announced in March that it would stop donating to the foundation because it is "large enough." Several months later, it emerged that TCI founder Christopher Hohn and his wife, who runs the charity, had split.
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.