Wednesday, 6 May 2015
Last updated 5 hours ago
Feb 17 2009 | 1:25am ET
Global hedge fund assets will fall by another $200 billion this quarter, a top UBS executive said today.
“We are going to see a reduction in hedge fund assets, we are going to see a decline in the number of hedge funds, we are going to see some strategies that will not work in this environment,” Timothy Bell, global head of hedge funds advisory at UBS Wealth Management, said.
Hedge fund assets will sink to $1.2 trillion by the end of the first quarter, a nearly 40% decline since peaking in the middle of 2008. Bell said the continued asset evaporation will be caused in part by hedge fund liquidations and a decline in the use of leverage.
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…