Wednesday, 1 October 2014
Last updated 11 hours ago
Feb 11 2014 | 1:22pm ET
Brevan Howard Asset Management is closing its emerging-markets hedge fund and parting ways with the vehicle's manager following large losses last year.
Brevan will shut its Emerging Markets Strategies Fund, which managed US$2.7 billion in April. That was before the U.S. Federal Reserve began to indicate that it would begin to taper its stimulus programs, sending the Brevan fund down 15% in 2013. It lost a further 1.6% last month
Geraldine Sundstrom, who has managed the fund since 2007, will leave the firm, Europe's largest hedge fund. Sundstrom, who is based in Geneva, has posted annual returns of 3.6% since joining Brevan.
Her ouster fits with Brevan's tough approach to money-losing managers. According to Bloomberg Markets, traders who lose 12% or more in a year are usually let go, a strategy that has ensured that Brevan's flagship master fund has never suffered an annual loss.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...