Salida Capital Fund Down 34% In Oct.

Nov 5 2008 | 3:07am ET

Toronto-based Salida Capital Corp.’s flagship hedge fund lost more than one-third of its value last month, as the value of its private equity investments collapsed.

The firm’s Multi Strategy Hedge Fund, which has fallen 63% this year to just C$76 million (US$65.7 million), blamed the declines on renegotiated mergers, which forced it to write down the value of its p.e. portfolio by more than 40%. One-fifth of the fund’s assets are in private equity.

“The current market environment has been one of the most painful we have seen,” CEO Courtenay Wolfe, chief investment officer Danny Guy and fund manager Brad White wrote to investors. They appealed for patience before clients head for the door, noting its double-digit gains in recent years.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of