Sunday, 19 April 2015
Last updated 22 hours ago
Jan 13 2014 | 1:19pm ET
Senrigan Capital Group, the Asia-focused hedge fund helmed by former Citadel Investment Group trader Nick Taylor, saw its losing streak extended to three years in 2013. But it's getting closer to breaking that spell.
The Hong Kong-based event-driven fund lost 3.8% last year, according to Bloomberg News. It took a somewhat Herculean effort to get even that close to break-even: Senrigan was down about 15% through August, and has returned 17% since then, including 1.5% last month.
Senrigan's continued losing ways are due to its investment in Australian mining company Sundance Resources. That company's stock collapsed last year after a proposed acquisition by China's Sichuan Hanlong Group fell through.
Without the Sundance loss, Senrigan would have returned about 14.3% last year. Its Japanese investments jumped 15% on the year.
Those facts have Senrigan hopeful that it will be back in the black in 2014. "We anticipate seeing significant further upside in the coming year," it said in a newsletter to investors.
Senrigan's assets, which topped out in 2011 at US$1 billion, have bounced back a bit with the gains. The firm now manages US$310 million, up from US$280 million in August.
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…