One year ago
>> Bridgewater Associates, the largest hedge
fund firm in the world,
pushed for even more assets with a new daily liquidity
version of its popular leveraged-beta All Weather Strategy.
The new fund, dubbed Bridgewater All Weather Portfolio III,
was said to be aimed at institutional clients who wanted to
invest their corporate defined contribution plans while
constantly shifting asset allocations towards a target
retirement date. Returns for that exact fund were not
immediately available--Bridgewater spokesman Parag Shah did not
respond to an inquiry--but the original All Weather 12%
strategy is up 16.3% this year through the end of November (see
here), compared with a 2.33% increase for the
Absolute Return Macro Index.
As for assets, Bridgewater's
most recent public filings (last updated in October)
indicate that All Weather Portfolio III manages just $83.76
million, a tiny sliver of the firm's overall $130 billion in
assets ($77.2 billion of which
is in hedge funds).
Bridgewater's long macro play: Long gold, oil and the
>> The J.P. Morgan-owned
Highbridge Capital Management let go at least three
senior executives and three analysts, including a handful who
worked on its struggling long/short equities fund run by Alec
Then-running $1.8 billion, the fund ended 2011 down 12.64%,
compared with a 2.49% median loss for the
Absolute Return U.S. Equity Index. The Highbridge fund has
since partially rebounded and is up 9.91% this year through the
end of November, according to figures from HSBC Private Bank.
That's above the benchmark, but assets are down to $950
Highbridge's $4.9 billion multistrategy Highbridge Capital
fund has performed even better; it is up 9.63% this year
through the end of November.
Ex-Highbridge man readies long/short fund focusing on
Korean and Japanese equities
Five years ago
>> SAC Capital Advisors founder
Steve Cohen was stymied by more than the Feds, as he was
said to be unimpressed by the $5.2 million his Willem de Koonig
painting fetched at a Manhattan auction.
The momentary disappointment did not stop his love for
which he sometimes shares with the public for free, and
sometimes displays despite questionable taste (see:
a formaldehyde shark) in his Stamford, Conn., offices.
Earlier this year,
he was named to the top ten list of the world's most active
collectors. More recently, however, links to insider trading
reportedly kept him from attending the gala Art Basel Miami
Beach, where he has traditionally been a big spender.
External spokesman Jonathan Gasthalter declined to
SAC's assets increased despite indictments
Steve Cohen acquires a Marilyn -
Cohen goes art shopping