Saturday, 18 April 2015
Last updated 2 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…