Tuesday, 21 October 2014
Last updated 9 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.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...