Tuesday, 30 September 2014
Last updated 1 hour ago
Jul 9 2008 | 11:44am ET
What a difference a year makes. Baring Asset Management’s China Absolute Return fund last month dropped 8.4%, leaving it down 18.83% year-to-date. The four-year-old fund is on pace for its worst year ever after returning 38.58% last year.
Last month, Chinese markets continued to feel the effect of the higher crude oil price and weaker global equity markets, according to the firm. Investor sentiment was also affected by the energy price liberalization policy announced by the Chinese government.
“The equity market, as measured by the MSCI China Index, fell by 12.2% during the month in U.S. dollar terms. The power generation and telecom sectors were particularly weak performers, with power companies hit by the tariff increase and telecoms affected by government-imposed restructuring,” said the firm.
Going forward, Baring said it has become more cautious on the outlook for the equity market in China over the near term since the short-term downturn, against a background of long-term growth, “may be more challenging than we previously thought.”
The US$40 million fund began trading in July 2004 and is listed on the Irish Stock Exchange.
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...