Saturday, 30 August 2014
Last updated 1 day ago
Jan 17 2008 | 8:25am ET
Yet another fixed-income hedge fund has been forced to suspend withdrawals as the credit market continues to spiral downward.
Elgin Capital suspended redemptions from its US$1 billion Corporate Credit Strategy just before Christmas, the Financial Times reports. The firm has also stopped calculating the fund’s net-asset value.
The London-based hedge fund firm, which manages some US$3.3 billion, had expressed optimism about the fund’s portfolio at the end of the third quarter. At the time, it was down about 6.3% on the year. Since then, leveraged loans have continued to decline in value, causing further losses for Corporate Credit.
Elgin was founded in 2003 by Mike Clancy, former credit trading chief at Merrill Lynch, and Guillaume Bonpun, who headed bond syndication at Dresdner Kleinwort.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...