Friday, 19 September 2014
Last updated 2 hours ago
Apr 3 2008 | 7:41am ET
Plexus Partner’s flagship hedge fund is down more than 35% this year, burned by wrong-way fixed-income arbitrage bets.
The London-based firm was hurt by the so-called “basis trade” between corporate credits and their derivatives, the Financial Times reports.
The US$1.4 billion fund’s trades went wrong in the face of unexpected moves in the credit market, possibly driven by other hedge funds dumping their positions.
The firm has reportedly sold off hundreds of millions of dollars in convertible bonds in an effort to stave off skittish banks calling in its loans.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.