Reuters reports: Winton Capital, one of the world's most
successful hedge fund firms, has seen clients pull $1 billion of cash out of
its portfolios amid falling returns from computer-driven fund managers.
The firm set up by Cambridge physicist David Harding, one of
Britain's richest financiers, said that assets had dropped to about $26 billion
at the end of 2012, from $29 billion in May.
While part of the drop was down to performance losses, about
$1 billion had been withdrawn by clients, a spokesman told Reuters.
The heavy outflow is likely to have stemmed from Winton's
decision during the credit crisis to cut risk levels - a move that makes it
attractive to more conservative investors such as pension funds but does not
always suit investors chasing higher returns....
Wait…wait…there’s more at http://uk.reuters.com/article/2013/02/13/uk-winton-investors-outflows-idUKBRE91C1BX20130213
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