QIM hit hard in May
June 03, 2010
Suzy Kenly Waite
Jaffray Woodriff’s firm has lost 16% of its assets since January 1, largely due to poor performance in May across its Global Program funds. May 20 was particularly bad. Said QIM president Michael Geismar: “It was one of the worst days we’ve ever had.”
Assets at Jaffray Woodriff’s managed futures firm, Quantitative Investment Management, have declined 16% since January, from $5.6 billion to $4.7 billion, following a string of consecutive monthly losses and a severe hit to most of its funds in May. The firm’s Quantitative Global Program lost nearly 4% in one day. “It was the 20th that really hurt us,” said QIM president Michael Geismar. On May 20, the S&P 500 dropped 3.9% and the Global Program lost...
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