TCI Unlocks: Hedge Fund Loosens Redemption Rules

Aug 28 2009 | 9:20am ET

Combative activist hedge fund The Children’s Investment Fund is showing an unusual side of itself: its humble side.

The London-based hedge fund, which suffered huge losses last year and has continued to lose ground this year despite the hedge fund rally, is offering investors an olive branch, changing its highly restrictive redemption policy. TCI has told its clients that they can get up to 20% of their money back now, The Wall Street Journal reports.

What’s more, the firm has created a new share class that will offer quarterly withdrawals. Investors can move to the new share class after their lockups—some as long as five years—expire, according to the Journal.

TCI lost 43% last year and is down 3% this year. The losses have cost the firm nearly half of its assets: TCI, which once managed US$15 billion, now has just US$8 billion.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

Nowhere to Hide: Why the Future of Asset Management Depends on Innovation

Nov 15 2016 | 6:55pm ET

Information technology has reshaped the asset management industry’s periphery,...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR