Monday, 4 May 2015
Last updated 43 min ago
May 30 2014 | 12:26pm ET
The hedge fund industry will double in size over the next four years, a Citigroup survey shows.
The bank’s annual hedge fund poll predicts that the hedge fund industry will manage $5.8 trillion in 2018, up from $2.9 trillion last year, as the industry takes on more retail investors and receives a larger share of the institutional pie.
“The hedge fund industry is entering its next evolutionary phase—one of optimization—a term we use to describe how firms are expanding, customizing and focusing their overall businesses,” Citi’s head of U.S. business advisory services, Sandy Kaul, said. “Investors are increasingly looking at hedge fund firms more as consultative partners to construct customized portfolios and capture new avenues of uncorrelated returns. In addition, the industry as a whole is beginning to fulfill some of the roles that banks used to traditionally own.”
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…