Monday, 20 October 2014
Last updated 5 hours ago
Nov 26 2008 | 3:09am ET
While many Western hedge funds are scaling back their operations in hard-hit Asia, or eliminating them altogether, the region’s largest hedge fund manager is doing the opposite.
Tokyo-based Sparx Group, which has seen its assets under management fall by almost 60%, said it will close its U.K. office and drastically reduce its U.S. presence after posting a first-half loss of ¥1.15 billion (US$11.6 million). The hedge fund has announced plans to slash annual fixed costs by about 20%.
“We want to take additional cost-cutting measures as we head toward March,” president and CEO Shuhei Abe said. “We must adjust our cost structure so that it makes sense will the current size of our business.”
To that end, London-based Sparx Asset Management International will close. Sparx will also eliminate all of its U.S. operations except for its mutual fund business.
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…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...