Tuesday, 21 October 2014
Last updated 5 hours ago
Feb 13 2008 | 10:57am ET
U.K.-based Polar Capital has closed its second hedge fund in as many months. The firm has closed its Lotus Fund Limited, saying it is “no longer viable and should be wound up and closed in an orderly fashion.”
Last year, the fund “experienced a period of disappointing performance both relative and absolute,” losing approximately 12%, according to the firm. Lotus was valued at approximately U.S.$54 million at the end of January.
The firm said at this value, a significant proportion of the fund’s assets would be consumed by the costs involved in running the fund making it uneconomic for the manager to continue to manage the vehicle.
Last month, Polar closed its Technology Absolute Return hedge fund citing similar reasons. The firm currently manages some US$3 billion in 10 long/short strategies and four long-only ones.
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…
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