Sunday, 19 October 2014
Last updated 2 days ago
Oct 14 2008 | 11:34am ET
Liongate Capital Management’s funds of funds are experiencing their worst year ever since inception.
The firm’s US$460 million Select Fund fell 6.03% last month bringing its year-to-date returns to 11.6%. All strategies within the fund’s portfolio, with the exception of volatility arbitrage, were negative for the month, according to the firm.
“In Sector Specialist, three out of six managers caused the majority of the losses, amidst sharp declines in commodity prices and energy related equities,” it said. “Convertible Arbitrage also made a significant negative contribution due to sharp mark to market losses as a liquidity squeeze in credit markets led to a sell-off in long bond positions that far exceeded offsetting gains made by short equity trades. Most of the losses in the equity long/short allocation came from one manager whose higher directionality hurt the portfolio in the current environment.”
Liongate’s $2.8 billion Multi-Strategy Fund also fell 2.42% last month, leaving it down 0.41% on the year. Last year, the fund returned 17.71%, while the Select Fund fared even better, gaining 23.51%.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...