Wednesday, 1 April 2015
Last updated 3 hours ago
Dec 17 2007 | 3:24pm ET
Investors are fleeing Tudor Investment Corp., as the Greenwich, Conn.-based hedge fund has posted less-than-stellar returns this year.
Tudor’s Raptor Fund has been hit with $1 billion in redemptions, with the once-$8 billion fund suffering an 8.5% decline through November. Last month alone, the equity long/short fund lost 3.1%.
Things are not much better at the firm’s flagship BVI Fund. Posting just a 2.5% return through the third quarter, the fund is now up 5.5% through last month, “well below our targeted new return of mid- to high-teens,” founder Paul Tudor Jones told investors in an Oct. 25 letter. Jones said he has considered slashing the fund’s asset level—currently $10 billion—to improve returns, and says the fund is adding a “more dynamic hedging program” to protect against downswings.
He added hopefully, “BVI has shown an average fourth-quarter next return of close to 7%.”
But Jones isn’t letting the trouble dent his holiday spirit. As he’s done for years, the billionaire has transformed his palatial waterfront estate in Greenwich into a winter wonderland.
Through Dec. 20, visitors to the gated community will be treated to a Christmas light show. This year’s “dreaming of Christmas” spectacular features toys, candy and snow in lights; Jones pays off-duty police officers to wave as many as 200 cars each night through exclusive Belle Haven to see the display.
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…