Tuesday, 23 September 2014
Last updated 10 hours ago
Oct 21 2008 | 10:11am ET
Swiss hedge fund shop Gottex Fund Management saw more than US$2 billion in assets evaporate amid the market turmoil during the third quarter.
The firm said it managed US$13.5 billion at the end of September, down 13.6% from the US$15.6 billion it held at the end of the second quarter.
“Many of Gottex’s products have performed in line with or better than the broader market indices and relevant benchmarks, but the unprecedented turmoil in the financial industry had a negative impact on performance, and has continued into October,” Gottex said today. “Gottex expects a further short-term downward impact on AUM due to deleveraging trends, investor portfolio adjustments resulting from concentration issues and liquidity requirements as well as foreign exchange impacts.”
Gottex said the global push by governments to shore up the banking industry should provide some “respite,” and that it expects to resume growing when the markets stabilize.
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.