Thursday, 2 April 2015
Last updated 8 hours ago
Mar 24 2009 | 2:00am ET
Singapore-based hedge fund Quant Asset Management said that it was hit hard by investors over the past year, as they withdrew some US$90 million in assets.
The unimaginatively-named fund’s Frank Holle said the firm’s assets have fallen 43% in the past 12 months to US$120 million. Most of the redemptions were from a fund of hedge funds that invests with Qaunt.
“First of all they lost a lot of money with their investments and then they want to get money back because their investors are redeeming,” Holle said at the Reuters Hedge Fund and Private Equity Summit in Singapore.
Despite his forecast that it would take as much as six more months for Quant to win new inflows of cash, Holle painted a rosy picture of the firm’s prospects. He said Quant believes its global and Asian funds can return as much as 30% this year. That may not be too much to ask of the US$95 million QAM Global Equities Fund, which is up about 6% this year. But the QAM Asian Equities Fund is down by almost a quarter in the early going of 2009.
“With inefficiencies in the markets, there are some tremendously interesting valuations and companies with good prospects,” Holle said.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
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…