Saturday, 29 November 2014
Last updated 20 hours ago
May 12 2008 | 10:09am ET
American International Group said its hedge fund investments were “a real laggard” in the first quarter. It wasn’t kidding.
The world’s largest insurer by assets said its alternative investments portfolio produced just $197 million in assets, a staggering 84% decline from the year-earlier period, when it earned $1.22 billion. AIG blamed the credit crisis for the weakened hedge fund and private equity performance.
Alternatives were not the only credit-crisis linked losses for AIG last quarter: The firm swung to a $7.81 billion loss on subprime- and housing market-linked losses. The insurer turned a $4.13 billion profit in the first quarter of last year.
About 3.5% of AIG’s investment portfolio, or $29.4 billion, is invested in alternatives.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...