Hedge Fund Failometer & Related
..
Not dedicated exclusively to housing / real estate but could be fun to watch.
Hedge Fund Failometer
..
Not dedicated exclusively to housing / real estate but could be fun to watch.
Hedge Fund Failometer
..
Comments
And another one bites the dust...........
Hub hedge fund will wind down
Sowood Capital Management, a $3 billion Boston hedge fund launched just three years ago by former Harvard endowment manager Jeffrey Larson, sold most of its holdings in troubled debt markets yesterday after telling investors that it had losses of more than 50 percent this month....
..Sowood told Bloomberg News last week that it did not hold any subprime mortgage debt in its portfolio. Nonetheless, it said its devalued bond holdings thrust it into a liquidity crisis and it was forced to sell securities to meet margin calls....
..
Grantham Says Hedge Funds, LBO Funds to Collapse (Update1)
Jeremy Grantham, the money manager who oversees $150 billion as chairman of Grantham, Mayo, Van Otterloo & Co. LLC, said credit-market declines may force as many as half of all hedge funds to close in the next five years.-
The loss of investors' appetite for risk also may cause at least one global bank and ``one or two'' of the largest private- equity firms to go out of business, Grantham, known for his pessimistic outlook, said yesterday. The 68-year-old investor said he's still bullish on emerging-markets stocks. -
Hedge-fund firms such as Boston-based Sowood Capital Management LP have collapsed as investors shun riskier debt including subprime mortgages and loans to fund buyouts. Bill Gross of Pacific Investment Management Co. in Newport Beach, California, said on July 24 he sees ``severe ramifications'' for some investors who had benefited from cheap borrowing costs. -
``Probably the most stretched silly credit that ever walked the face of the earth was subprime, and that was the start of it,'' Grantham said in an interview in his Boston office. ``And then you started to see more of the fixed-income market getting contagion.'' .....
..
Subprime debacle causing trouble for yet another "mutual" fund!
Frankfurt Trust Halts Redemptions at Fund Amid Subprime Concern
..
It wasn't a hedge fund. I know you want to be as bearish as the next guy, but at least get your facts straight.
shaquille, Thanks for pointing out my error. :oops:
I can't help but wonder why they would halt redemptions. Is it possible that this fund is severely leveraged, like the Bear Stearns hedge funds?
..
Frankfurt Trust, the mutual fund manager of Germany's BHF-Bank, stopped withdrawals from a fund after clients removed 20 percent of their money since the end of July amid concern about the U.S. subprime loan debacle.
The FT ABS-Plus fund, which includes residential mortgage- backed securities and collateralized debt obligations, halted redemptions on Aug. 3, the Frankfurt-based company said today. The 160 million-euro ($221 million) fund has a ``small exposure'' to subprime investments, spokesman Holger Ullrich said....
..
Highbridge, Goldman `Quant' Hedge Funds Lose Money (Update1)
Hedge funds that use mathematical models to drive investment decisions, including those run by Highbridge Capital Management LLC, Goldman Sachs Group Inc. and Tykhe Capital LLC, are losing money in August.
--
Highbridge's $15 billion multistrategy fund fell 4 percent this month, the Tykhe Portfolios Ltd. Fund declined 7 percent in the first three trading days of August and Goldman Sachs's $9 billion Global Alpha fund dropped almost 12 percent in the two weeks that ended Aug. 3, according to investors. A second Goldman fund is selling positions in response to losses....
..