Thursday, 26 March 2015
Last updated 11 min ago
Oct 29 2007 | 3:06pm ET
Subprime problems notwithstanding, the Credit Suisse/Tremont Blue Chip Investable Hedge Fund Index withstood the worst of the summer swoon. The Credit Suisse Index Co. said the index fell 0.94% during the third quarter, in spite of the fact that seven of 10 constituent strategies posted losses during the quarter.
The Blue Chip Index, with its 60 constituent funds, is up 5.41% year-to-date.
“Hedge fund managers experienced a challenging third quarter due to the subprime market crisis, which resulted in only three of 10 hedge fund strategies producing positive quarterly results,” CS Tremont President Oliver Schupp said, referring to emerging markets (up 4.43% in Q3), fixed-income arbitrage (1.86%) and dedicated short-bias (0.88%). “July and August proved to be difficult months due to falling global equity markets, increased volatility, and a flight to liquidity and quality in financial markets.”
Among the losers, managed futures funds took the brunt of the downturn, dropping 3.88% in the quarter. Event-driven was down 2.07% and convertible arbitrage 2.01%.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…