Monday, 20 October 2014
Last updated 2 days ago
Jan 11 2008 | 10:05am ET
Fairhope, Ala.-based Point Clear Capital Management is betting on continued volatility in the credit markets, and is adjusting its credit hedge fund accordingly. The $80 million shop is transforming its Alpha 1 Fund from a directional short strategy to a long/short one.
“We felt it was the right call to be in directional short positions early in that fund and now that we’re entering into a wider spread, more volatile environment, we’re staying with a short-bias and picking our entry points to start taking long credit risks,” said Lyle Minton, partner. “The name of the game going forward is still a wider posture with a lot of volatility.”
The Alpha I Fund and its levered versions, Alpha 50 and Alpha 150, returned 22.17%, 16.84% and 39.05%, respectively, last year. The firm’s Piedmont Fund is an offshore structured credit fund with a short bias to exposure to the U.S. investment-grade corporate bond market. The fund implements its short credit position through the trading of credit default swaps. The firm offers its funds in credit-linked notes, allowing it to issue different funds on the same platform.
The Piedmont Alpha fund charges a 1% management fee and a 20% incentive fee.
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 ...