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Reuters – Mellon Capital Management, which invests money for pension funds and others, plans to launch a new hedge fund in August, a top executive said on Tuesday.
The new portfolio, which is slated to become the group’s flagship hedge fund offering, will invest in currencies, commodities, stocks, bonds and derivatives.
"This will be the first time that Mellon Capital will offer clients a commodity alpha source," said Eric Goodbar, the firm’s hedge fund strategist.
Reuters – Hedge fund assets under management around the world have probably fallen below $1 trillion, a top executive at hedge fund New Finance Capital LLP (NFC) said on Thursday.
"There has been an enormous contraction in this industry. The industry is much, much smaller this year," NFC co-Chief Executive and co-Chief Investment Officer Marc Hotimsky told a briefing for reporters.
Assets under management were by now "probably slightly below $1 trillion," he said.
Reuters – Hedge fund firm Duff Capital Advisors, launched last year to help pension funds, endowments and insurers meet long-term funding obligations, laid off most of its staff, a person familiar with the matter said on Thursday.
The company remains in business and is now focusing mostly on providing risk analysis and advice, said the person who was not authorized to speak about the matter publicly. Previously Duff Capital also offered hedge fund products.
The company once had about 100 people working for it.
Hedge fund industry veteran Phil Duff, a former chief financial officer at Morgan Stanley and top executive at famous hedge fund firm Tiger Management, set up Duff Capital Advisors in March 2008, shortly before the financial crisis exploded. He launched the firm only a few months after having sold his previous firm, FrontPoint Partners, to Morgan Stanley.
