Thursday, 18 September 2014
Last updated 16 hours ago
Oct 22 2008 | 12:02pm ET
London-based F&C Investment is winding down its event-driven fund of hedge funds to repay investors. The £64.2 million (US$109.5 million) fund launched in June 2007 and has lost 27.2% since inception.
Jason Hollands, the head of communications at F&C, said the firm’s board of directors already had 75% of shares so they could not meet investors' redemption demands through a share buyback.
“In the challenging market we're in they also felt they would be unable to dilute their shareholding through new investments,” he said.
The planned move will be voted on by shareholders at their next meeting.
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.