Sunday, 21 September 2014
Last updated 2 days ago
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.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.