Thursday, 18 September 2014
Last updated 3 hours ago
Apr 8 2008 | 11:51am ET
Some of the biggest and most respected names in the hedge fund industry are suffering through their worst-ever drawdowns.
Renaissance Technologies, the quantitative firm headed by James Simons, has seen its $18 billion Institutional Equities Fund drop 12% since it peaked in last May—its largest-ever maximum drawdown. Institutional Equities is down 6.64% this year, Bloomberg News reports, and has seen assets drop more than 14% due to the losses and client redemptions.
Another top firm seeing big losses since peaking is Traxis Partners, which has lost 15% since the end of September 2007. And Tiger Management veteran Stephen Mandel’s Lone Cedar Fund, managed by his Lone Pine Capital, is down 10.6% from its December 2007 high.
New York-based Satellite Asset Management’s Satellite Overseas Fund is also suffering, dropping 9.6% since the end of October 2007.
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.