Average US Hedge Fund Dips in February

March 8, 2002 (PLANSPONSOR.com) - The Average U.S. Hedge Fund posted a mild -0.7% net loss in February, based on preliminary figures received by Van Hedge Fund Advisors International, Inc.

 After a small gain in January, the Average U.S. Hedge Fund returned an estimated -0.2% net over the first two months of 2002. By comparison, except for the blue-chip Dow Jones Industrial Index, all the major stock averages were negative for both February and the year to date.

Final February and year-to-date results for the Van Hedge Fund Indices, detailing the average performance for US, Offshore, and Global hedge funds by strategy, are scheduled for release later this month.

Get more!  Sign up for PLANSPONSOR newsletters.

Hedge fund returns are net of fees and performance allocations. 

State Street Clears Hedge Fund 'Hurdle'

July 3, 2002 (PLANSPONSOR.com) - State Street has finally found a way in to the hedge fund business, having reached an agreement to acquire International Fund Services, a New York and Dublin-based provider of alternative investment services.

IFS services over 100 large asset management firms and private equity fund managers, representing more than 350 funds globally, according to the firms. IFS is headquartered in New York City, with operations centers in New York City and Dublin, Ireland, with approximately 500 employees.

“This acquisition marks an important milestone in delivering on two of our key priorities — enriching our relationships with sophisticated global investors and extending our capabilities in alternative investments, including hedge funds,” David Spina, State Street’s chairman and chief executive, said in a statement.

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

IFS provides fund accounting and administration as well as trade support and middle office services for alternative investment portfolios.

Spina also noted that State Street will take ownership stakes in service providers specializing in alternative investments, “as they increasingly allocate a larger share of their funds under management to non-traditional investments,” according to the statement.

The transaction is expected to close in the third quarter and have a neutral effect on earnings this year, State Street said.

«

Ad Blocker Detected

We have detected that you are using an ad blocker in your browser. For further access of our website, please disable your browser's ad blocker.