Wednesday, 1 October 2014
Last updated 11 hours ago
May 12 2008 | 12:30pm ET
Magnum Global Investments has made an undisclosed commitment to a pair of long/short hedge funds: Crestridge Capital Offshore Fund and the FiveMore Fund.
The Crestridge Fund invests in exchange-traded funds along with individual stocks, both long and short, and also utilizes covered options as a risk management tool.
The fund’s onshore version returned 37.4% last year mostly from shorting ETFs, and is up 19.4% through April. Its co-portfolio managers are Jason Allen and Joe Tracy.
Magnum has also made an initial investment in FiveMore Fund, a European long/short offering with a long bias and a bottom-up blended value approach. The fund employs a fundamental stock selection process and intra-day and overnight trading executed from its own trading desk. The Zurich, Switzerland-based fund generated a 48.8% return last year while increasing its assets under management from US$3.7 million to US$60 million.
Magum was founded in 1994 by its chairman, Dion Friedland.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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