As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 16 hours ago
Aug 22 2008 | 12:05pm ET
Bramdean Asset Management’s listed fund of hedge funds is doing away with its less-super investments.
The London firm, run by “Superwoman” Nicola Horlick, pulled its investments in five of the eight hedge funds in its transitional portfolio. Among those canned in the fund’s biggest-ever monthly reshuffle was a fund run by Nobel Prize winner Myron Scholes.
“In response to the continuing market turbulence,” the firm “is increasing the focus on capital preservation,” it said in a statement.
The funds no longer managing money for £131 million (US$243 million) fund of funds are Scholes’ Platinum Grove Contingent Capital Offshore Fund, York Capital Management’s Asian and European funds, the Enso Global Equities Fund and Oak Hill Credit Alpha Fund. Bramdean also switched funds at James Simons’ Renaissance Technologies, moving its money from the Renaissance Institutional Equities Fund to the Renaissance Institutional Funds Fund International.