Thursday, 26 November 2015
Last updated 7 hours ago
Apr 28 2008 | 11:41am ET
A decade after his Long-Term Capital Management imploded, John Meriwether has once again become the bearer of bad news.
Meriwether’s JWM Partners has seen both of its hedge funds bleed red ink this year, leading the firm to offer investors an early exit. Hedge Fund Manager Week reports that JWM has given clients of its $380 million Global Macro Fund permission to withdraw their money ahead of the redemption period after the fund dropped 14% in the first quarter.
The Greenwich, Conn.-based firm did not say how many investors took up its offer.
The losses at the Global Macro fund, however, pale in comparison to JWM’s flagship product: The Relative Value Opportunity Fund, which managed $1.2 billion at the beginning of the year, was down 31% in the first quarter.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…