Tuesday, 23 September 2014
Last updated 6 hours ago
Sep 4 2008 | 11:27am ET
London-based Psigma Investment Management is launching a multi-strategy fund investing in investment trusts, hedge fund of funds and exchange-traded funds next week, it said.
Tom Becket, manager of the PSigma Balanced Managed Fund of Funds, said the portfolio will begin with a total of about 40% in equities, skewed towards international markets. Becket added that he currently favors the healthcare sector because of its short-term defensive characteristics and longer-term growth potential and said the fund will invest in Polar Capital’s Healthcare Opportunities fund to gain exposure to the sector.
On the credit front, Becket said the current dislocation in the space is making for “fantastic long term opportunities” and he is optimistic about the attractive yields to maturity on investment grade financials bonds.
“We believe that the experiences of Northern Rock and Bear Stearns show that the Bank of England and the U.S. Treasury have decreed the banks as ‘sacrosanct’, so there is virtually no chance of bond holders not getting back their capital invested,” he said.
The fund charges a 1.5% management fee and its minimum investment requirement is £10,000 (US$$17,769).
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.