Tuesday, 21 October 2014
Last updated 2 hours ago
Dec 16 2008 | 3:49am ET
CLSA Asia-Pacific Markets is cutting back on its hedge fund-related businesses, the investment bank says.
"In some places like Australia and China, we plan to increase our investments and staff for new services to be launched next year," C.G. Wu, China chairman and Asia vice chairman, told Reuters. "But in other areas like hedge fund-related business, we plan to shed staff due to the decline in sales from the hedge fund industry, which is facing big pressure from redemptions,"
Wu did not offer specifics on how many employees might lose their jobs.
Meanwhile, Wu said CLSA hopes to launch an onshore private equity fund in the first quarter of the new year.
"We are certainly interested in setting up an onshore renminbi fund in China, which is like a China passport for a foreign investor, allowing you to do deals more easily," Wu said. "We are considering different ways and this matter is also subject to Chinese regulators, who I think do welcome foreign investments to support the country's economic growth.”
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 ...