Saturday, 30 August 2014
Last updated 23 hours ago
Jun 3 2009 | 4:35am ET
Citadel Investment Group’s flagship hedge funds continued their long, slow climb back from last year’s disastrous loses in May, bringing their year-to-date gains to 21%.
The Kensington and Wellington funds, which together manage approximately $8 billion, returned 6% in May. The funds benefited primarily from investments in convertible bonds, stocks and interest rate bets, Bloomberg News reports.
The two funds lost some 55% last year, leading Chicago-based Citadel to suspend redemptions. Kensington and Wellington still have a long way to go before making investors whole once again; according to Bloomberg, they must return another 84% to reach their high-water mark, when Citadel can again charge performance fees.
In February, Citadel announced it would create a “distribution program” to allow investors to get some of their money out of the fund. But according to Bloomberg, the firm has yet to loosen its bar on withdrawals and has not returned any money.
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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...