Monday, 30 March 2015
Last updated 2 days ago
Dec 22 2005 | 9:07pm ET
Magnum Fund Management is preparing to launch two funds on Jan. 1, the offshore MG Collateralized Debt Fund and the onshore Jericho All-Weather Opportunity Fund. According to David Friedland, president of Magnum U.S. Investments, the funds will invest in short-term notes backed by hard assets.
Initially, Magnum will market the funds to high-net-worth individuals, funds-of-funds and family offices, but as assets grow the firm aims to bring in institutional investors.
"With many other lower-risk strategies suffering periods of significant underperformance from time to time, [which has been] particularly evident this past year, it makes sense to find alternative strategies that can be robust through every investment cycle," said Friedland.
Each fund will launch with between $5-10 million in commitments. The offshore fund, which is managed solely by Magnum, will charge a management fee of 0.5% and a performance fee of 10%. The onshore Jericho fund, which is being managed by Magnum, Svirsky Asset Management and Jericho affiliate SRKD Management, will charge fees of 1% for management and 20% for performance. Each fund aims to close with total assets of around $200 million.
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…