Wednesday, 1 October 2014
Last updated 7 hours ago
Jul 23 2009 | 2:25am ET
Chicago-based Driehaus Capital Management has launched an absolute return mutual fund designed to take advantage of a broad range of opportunities in the credit markets.
Driehaus said the Driehaus Active Income Fund is unlike recent spate of “hedge-like” mutual funds in that it already boasts a three-year track record and has received a 5-star Morningstar rating. Assets in the fund currently exceed $800 million. The fund invests primarily in U.S. fixed income and floating rate securities, of both investment and non-investment-grade credit quality, by employing in a variety of short-term trading strategies.
According to K.C. Nelson, portfolio manager of the new fund, the fund pursues relative value and outright long and short investment opportunities across a variety of credit instruments and is looking to trump returns of long only core bond allocations, with equal or less volatility.
“The credit markets currently offer some extraordinary investment options,” he said. “However, this ‘cheapness’ exists in only certain segments of the market, and these segments are constantly changing. A static, long-only core approach with no hedging mechanism can fail to take advantage of these changes. This fund gives investors exposure to the credit markets in a relative value format, while hedging away virtually all of their interest rate risk.”
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…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...