Tuesday, 23 September 2014
Last updated 1 hour ago
Dec 5 2008 | 12:41am ET
One Miami-based hedge fund is bucking the industry-wide downturn with a real estate investment trust vehicle. Arcanum Capital Management’s nine-month old REIT Investment Fund returned an estimated 20.5% last month, bringing its year-to-date gains to about 49%.
The fund focuses on the U.S. REITs traded on major stock exchanges. Its typical holding period for each REIT is about three months. Managing partner Henrik Laulund said while November was an extraordinarily good month for the fund, the REIT market as a whole lost around 23% and was down over 41% at the months low.
“It was the huge declines in some of the most distressed REITs in our short portfolio that contributed to this extraordinary return,” he said. “Several weak REITs lost more than 50% of their value in November.”
Laulund said he expects to see further declines in commercial real estate and several REITs, which may create good opportunities to buy REITs that are relatively undervalued and short REITs that are relatively overvalued.
And while Laulund isn’t actively seeking seeders for his sub-$10 million hedge fund, he said it is something that he is open to take a look at.
Laulund has a background in consulting from Ernst & Young Management Consulting and IBM.
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 McKitich, CIO of Petty 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…
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.