Tuesday, 30 September 2014
Last updated 3 min ago
Oct 29 2008 | 1:57am ET
UBS will close its U.K. listed investment funds business, which includes exchange-listed hedge fund products.
The move is part of a wide-ranging plan to refocus on the firm’s investment-banking activities. The group, which employs 10, is to be shut down by the end of the year, Financial News reports, citing an internal memo.
“We will effect an orderly rundown of these activities between now and the end of the year, during which time we will look to transfer the team as a going concern to another financial institution,” a UBS spokesman told FN.
The listed funds group provides sales, market-making, research and corporate broking, and has seen a slowdown in business since a flurry of hedge funds listed vehicles two years ago. Among those was the launch of Marshall Wace’s MW Tops, for which UBS served as joint global coordinator and bookrunner.
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 McKitish of Peddie School's 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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...