Monday, 20 October 2014
Last updated 5 min ago
Nov 28 2007 | 7:41am ET
Creditors of a structured investment vehicle formerly run by a British hedge fund are considering a restructuring plan that could save them from huge losses.
The Wall Street Journal reports that under a proposed deal, senior creditors would be able to choose to either refinance their debt or take a steeply discounted pay-out. The assets of the $7 billion SIV, run by Cheyne Capital Management until it went into receivership on Sept. 5, would then be transferred to a new, longer-term vehicle, buying creditors time to sell the portfolio, which has been wracked by the sinking credit market.
Another option for the former Cheyne Finance, now known as SIV Portfolio and run by receiver Deloitte & Touche, is to seek a buyer for its portfolio. But talks with potential buyers have been stymied by the continuing freefall in the value of the SIV’s assets.
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 ...