Wednesday, 1 October 2014
Last updated 10 hours ago
Dec 4 2008 | 10:47am ET
The bad news for the hedge fund industry continues to snowball, with two of the largest hedge funds in the world imposing redemption restrictions.
New York-based D.E. Shaw Group and San Francisco-based Farallon Capital Management have placed gate limits on withdrawals, Bloomberg News reports. They join dozens of other hedge funds that have restricted how much their investors can pull—or barred redemptions altogether—as the market volatility continues to take the industry on an unpredictable ride.
D.E. Shaw, which manages some $36 billion, saw a gate provision on its Oculus Fund triggered when it received redemption requests totaling more than 8% of the fund’s assets, despite the fact the fund has bucked the industry trend toward double-digit losses this year. In fact, the fund is up about 10%.
Farallon’s Institutional Partners fund has not been so lucky. It imposed the redemption limit—which it said it may lift as soon as next month—after investors tried to yank about a quarter of its assets. The fund is down 23.8% this year.
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...