Tuesday, 21 October 2014
Last updated 2 hours ago
Jul 6 2009 | 12:53pm ET
Ospraie Management, which shuttered its flagship hedge fund last year following huge losses, is back with a pair of new hedge funds.
The New York-based commodities hedge fund shop launched the two funds this month with a combined $100 million, Bloomberg News reports. Despite the fact that Ospraie was forced to close its Ospraie Fund, once the largest commodities hedge fund in the world, in September after a 39% loss, it took the firm just two months to raise the money.
Firm founder Dwight Anderson called available investment opportunities “as compelling as I have seen in my 15-plus years of investing.” To capitalize on those opportunities, his firm launched the Ospraie Equity Fund and Commodity Fund on July 1. The former invests in the stocks of commodity producers and companies, while the latter invests directly in commodities and associated derivatives.
Ospraie Fund clients have gotten about 80% of their money back, with the rest still tied up in illiquid investments. The firm has offered investors in its former flagship steep fee discounts—either no performance fees at all until last year’s losses are made up, or a 1% management fee and 10% performance fee for the life of their investment—if they invest in the new funds. And unlike the Ospraie Fund, the new funds do not impose a long lock-up period on investors, instead offering quarterly liquidity.
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…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...