Friday, 25 July 2014
Last updated 1 hour 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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…