Tuesday, 26 May 2015
Last updated 6 min ago
Jan 23 2009 | 1:05am ET
Hedge funds hoping that the worst of investor redemptions and poor performance was over may have been overly optimistic, according to one analyst.
Morgan Stanley’s Huw van Steenis predicts that the global hedge fund assets may fall below $1 trillion this year. Van Steenis said that hedge funds are on track to lose $450 billion in assets to withdrawals and market losses, a 37% decline from the $1.2 trillion they managed on New Years Day. That would be an even larger drawdown than last year, when hedge funds lost $600 billion in assets, one-third of what they started the year with.
“It’s hard not to be bearish in this environment,” van Steenis told Bloomberg News.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…