Tuesday, 30 September 2014
Last updated 1 hour ago
May 20 2009 | 9:15am ET
Abax Global Capital is responding to growing investor demands for changes in hedge fund fee structures. The Hong Kong firm, which is owned in part by Morgan Stanley, is opening its Asia macro fund to outside investors, promising to refund part of its performance fee if the fund loses money in the subsequent year.
Abax launched its Dymon Asia Macro Fund in August with US$113 million, most of it from hedge fund Tudor Investment Corp. And now, ready for public consumption, its offering a sweetener: A clawback clause, under which it will repay half of the 20% performance fee it earned the previous year if it loses money the following year.
“We want to let investors know that we’re in this together,” chief investment officer Danny Yong told Bloomberg News.
The Dymon Asia Macro fund will open to outside investors for the first time on July 1. The fund trades interest-rate, currency and equity derivatives, and has outperformed the Eurekahedge Asia Macro Hedge Fund Index, according to Yong, although he declined to provide Bloomberg with its performance figures.
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 McKitish of Peddie School's 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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.