Tuesday, 21 October 2014
Last updated 3 hours ago
Feb 19 2008 | 11:53am ET
Palo Alto, Calif.-based family office Judicial Capital last month launched an event-driven, long-bias equity hedge fund, using a strategy that it has run with family money with since 1999.
The fund, which was flat in its first month of trading, will focus on spin-offs and mergers and acquisitions, as well as companies with new product lines, shifts in geographic revenue mix and change in management, according to Kenneth Marshall, portfolio manager.
“The way that you outperform the hedge fund index is by seeing in certain situations an event where others don’t,” Marshall said. “So if you’re just looking at the spinoff calendar, you’ll miss some of the more significant events that’ll happen leading to enormous valuations.”
Last year, the strategy gained 23.6% and 20% in 2006. Marshall started managing family money in 1990 when TriCare, a company his parents founded, went public. His capital base expanded in 1992 when the family sold legal services startup Judicial Arbitration and Mediation Services to private equity firm Warburg Pincus.
The fund charges a 1% management fee and a 20% incentive fee. Its minimum investment requirement is $1 million.
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 ...