Friday, 19 September 2014
Last updated 3 hours ago
Nov 26 2008 | 3:08am ET
The losing streak continued last month for the Iraq-focused Babylon Fund, which dropped 10.4% in October, bringing its year-to-date losses to 18.8%.
The largest contributor to the fund's loss was the Iraqi Holding Company/Qurain, which dove 38%, and the internationally-available Iraqi 5.8% 2028 bond, which stumbled 28%, according to portfolio manager Björn Englund.
“The remaining losses were evenly distributed over the rest of the holdings,” Englund wrote in an investor letter. “In fact, in October, not a single position of our overall 40 holdings rose in price—unmatched in our portfolio's history.”
Two-thirds of the fund’s exposure was in equities last month, followed by bonds and credit debt obligations.
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.