Tuesday, 23 August 2016
Last updated 6 min ago
Feb 26 2009 | 2:54am ET
The LongChamp Group’s latest fund of funds offering last year suffered the same fate as its existing ones, ending its first full quarter of trading in negative territory.
The New York-based firm’s Silvercrest Global Opportunities Fund dropped 11.59% from September through December, and lost another 0.08% in January, according to data obtained by FINalternatives. Its existing funds of funds, including its Emerging Markets, Multi-Strategy Alpha and Silvercrest Market Neutral funds, all dropped between 13% and 40% last year.
The firm declined to comment on its performance.
LongChamp was founded in 1981 by Jean Karoubi as a family office. It is a subsidiary of Silvercrest Asset Management, a traditional and alternative investment advisory firm, which last year bought Marathon Capital Group to bring its total assets under advisory to nearly $10 billion.