Tuesday, 23 September 2014
Last updated 3 hours ago
Oct 13 2008 | 1:31pm ET
Marhall Wace said last week it is offering investors in the MW TOPS fund a chance to cash out, calling its current share buyback program no longer an efficient means of creating liquidity, particularly in current market conditions.
“Since the launch of the company, MW TOPS Limited has worked actively to ensure optimum liquidity in the shares and to minimize the NAV tracking error,” said Andrew Large, chairman. “Current market conditions are extremely challenging in this respect. The board and the manager are in complete agreement that the interests of shareholders can best be served by proceeding with a cash exit exercise of this nature.”
MW TOPS was the first single manager hedge fund to list when in floated on Euronext in Amsterdam in December 2006. The TOPS master fund manages some US$7 billion in assets and the MW TOPS listed fund currently has assets of some US$1.4 billion.
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.