Tuesday, 23 September 2014
Last updated 4 hours ago
Apr 16 2009 | 1:22am ET
Another Asia-focused hedge fund has bit the dust. London-based Stratton Street Capital has closed its Dejima Fund, which had seen almost 99% of its assets disappear due to poor performance and investor redemptions.
Stratton Street shuttered the fund at the end of February, Dow Jones Newswires reports. The firm, which focuses on investments in Asia, transferred the fund’s remaining assets—it had fallen to just US$1.1 million from a peak of about US$90 million—to another of its funds, the Japan Synthetic Warrant Fund.
“Assets in the fund became relatively too small to make it commercially viable,” Stratton Street managing partner Andrew Main told Dow Jones. “As you can imagine, geared long Japan over the last few years wasn’t necessarily the best place to be invested.”
Dejima, which launched in 1998, invested in options on Japanese convertible bonds.
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 McKitich, CIO of Petty 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…
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.