Friday, 19 September 2014
Last updated 12 hours ago
Oct 1 2008 | 8:59am ET
London quantitative hedge fund shop CQS says there is a lot of blame to go around for its most recent losses.
In a letter to investors, Michael Hintz, the firm’s CEO, said new regulations and trouble in the banking and hedge fund industries sent CQS’ flagship hedge fund down 10% last month. He said exposure to Lehman Brothers and widespread asset sell-offs, “especially last week,” negatively affected the US$4.5 billion convertible arbitrage fund.”
Hintz said the firm has had to allocate “substantial resources” to deal with the “slew of instructions” from regulators. Despite all of that, and the continuing market turmoil, Hintz put on a brave face, saying he was “encouraged and positive” about the fund’s future.
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.