Tuesday, 31 March 2015
Last updated 1 hour 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.
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…