Monday, 4 May 2015
Last updated 2 hours ago
Oct 15 2008 | 11:54am ET
Embattled hedge fund Absolute Capital Management says it is closing two more hedge funds because of increasing redemption from investors.
Specifically, the firm said that since the lock-in period for the A class portfolios of the Absolute Return Europe Fund, Absolute European Catalyst Fund, Absolute East West Fund and Absolute Octane Fund is about to end, it has decided to close the East West and Octane funds at the end of the month. The firm is also closing the Absolute Activist Value Fund at the end of the month.
In January, AbCap closed the Absolute India Fund in January despite “excellent” performance because it had become too small to continue trading. Over the past 10 months, AbCap has also completed the transition of the Absolute European Catalyst Fund, Absolute Return Europe Fund and Absolute Germany Fund to European mid-to-large cap trading strategies.
The tweak has helped the funds’ returns to above-market gains so far. In particular, The Absolute Germany Fund and the Absolute Large Cap Fund, have returned 18.19% and 10.57% YTD respectively.
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…