Saturday, 1 November 2014
Last updated 18 hours ago
May 23 2008 | 2:00am ET
A London art hedge fund has enlisted the services of a heavy-hitter in the world of contemporary art as an adviser.
The Art Trading Fund, which calls itself the world’s first “regulated fine art hedge fund,” will employ the services of famed art collector and advertising mogul Charles Saatchi in making contemporary art buys. Saatchi, known for popularizing the works of the so-called “Young British Artists” such as Damien Hirst, will advise on buying works by Western, Chinese, Indian and Middle Eastern contemporary artists.
The firm’s second fund is hoping to raise £50 million (US$98.6 million) by the end of the year. It is domiciled in Guernsey, in the Channel Islands.
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…
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