Saturday, 28 March 2015
Last updated 1 day ago
Oct 16 2008 | 2:39am ET
No news is good news for hedge funds these days, but everyday brings more news. The latest instance of unpleasant information for the industry are the enormous withdrawals suffered by hedge funds in September.
Hedge fund indices have already shown last month to be among the worst ever in terms of performance; the latest TrimTabs Investment Research data shows it was just as bad—if not worse—in terms of clients fleeing. Investors yanked at least $43 billion from U.S. hedge funds in September, and TrimTabs says worse is still to come.
September’s withdrawals are “the beginning of what we expect to be a series of outflows for the remainder of the year,” TrimTabs’ Conrad Gunn told the Financial Times. “We expect October outflows to be larger.”
Of course, it isn’t totally clear just how bad September was yet. Gunn, the firm’s chief operating officer, said the $43 billion figure was preliminary, and is likely to grow as more funds report their outflows.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…