Sunday, 21 December 2014
Last updated 1 day ago
Nov 30 2007 | 11:03am ET
A pair of high-profile New York hedge funds is singing the blues as big losses over the past two months have wiped out their year-to-date gains.
JPMorgan Chase’s Highbridge Capital Management saw its Event Driven Relative Value Fund plunge 12.78% in the first two weeks of November, the New York Post reports, citing figures from HSBC. The $748 million fund was reportedly burned by widening spreads resulting from collapsed leveraged buyouts, and is now down 6.74% year-to-date. The fund had weathered this summer’s credit crunch, and was up 10% in late October.
Meanwhile, Drake Capital Management is smarting after a 10.5% drop in its flagship Global Opportunities Fund last month. The $3.91 billion macro fund, which returned 41% last year, is now down 9.91% this year.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.