Monday, 20 October 2014
Last updated 2 days ago
Jan 24 2014 | 11:01am ET
Fund of hedge funds Pine Grove Asset Management has transformed its credit vehicle into a mutual-fund structure.
The Pine Grove Alternative Institutional Fund is a closed-end fund offering access to relative-value and event-driven managers, focused on credit.
"Continuing to invest in our underlying managers' flagship portfolios was extremely important to us when we constructed this vehicle," Pine Grove President Matthew Stadtmauer told HedgeWeek. "Since the new Alt Instl Fund acquired the assets of its predecessor fund, it will be one of the only '40 Act funds that benefits from a 16-year performance history."
"By focusing on credit strategies, we are offering investors exposure to managers who exploit market inefficiencies that most traditional long-only funds are not capturing," Pine Grove chief investment officer Tom Williams added. "Our portfolio construction is positioned to handle a potential rise in interest rates as the managers we allocate to usually display negative correlation to high-quality bonds."
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 ...