Friday, 22 August 2014
Last updated 1 hour ago
Apr 17 2008 | 12:45pm ET
Months after the subprime mortgage collapse wreaked havoc on the hedge fund world, Clinton Group’s Multistrategy Fund is still suffering.
Multistrategy was down 45% in the first quarter due to bad bets on mortgage-backed securities. Total assets are down by almost 80%—just $90 million from $400 million on New Years Eve—as investors have fled the sinking fund. Clinton Group’s hedge fund assets have fallen from $5.5 billion five years ago to just $600 million today. The firm also manages $7 billion in collateralized-debt obligations and $400 million in private equity.
Despite the setbacks, firm founder George Hall is apparently not discouraged, as he hopes to raise $150 million for a new fund, Bloomberg News reports. The new vehicle will invest in stocks and asset-backed bonds, featuring annual, as opposed to Multistrategy’s quarterly, liquidity.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note