Gartmore has decided to close its macro hedge fund after incurring heavy losses during July's bond market turmoil.PARA_BREAK_SENTINEL_9f8e7d6c Gartmore has decided to close its macro hedge fund after incurring heavy losses during July's bond market turmoil. The Global Macro fund was managed by Jeremy Hale, who has left Gartmore. At its peak the fund had assets of about USD 20 million. The fund had not performed well since its inception in February 2002, losing 9.5 per cent on a cumulative basis and dropping to USD 12 million in assets under management. Despite the closure assets under management in its hedge fund range are growing strongly and Gartmore intends to increase hedge fund assets from the current level of USD 3 billion to USD 5 billion over the next two years. Gartmore' s recently launched credit hedge fund attracted USD 50m on its opening day and will re-open to new investment for a single day next month. Copyright Hedgeweek 2003
Yen carry trade risks mount
Hedge funds and other leveraged investors face renewed risks from the yen carry trade as Japan moves further away from decades of…
More
Valour launches first crypto hedge fund using Neuronomics AI strategy
Valour, the digital asset investment products subsidiary of DeFi Technologies, has launched its first hedge fund as it expands beyond…
More
SocGen targets strong prime brokerage growth
Societe Generale is planning to significantly expand its prime brokerage business as part of Chief Executive Officer Slawomir Krupa's…
More
