Source: emii.com Citadel Investment Group is planning to cut holdings for two of its funds, Bloomberg reports. It includes reduction in convertible bonds and other relative-value trades that aim to profit from small price differences in related securities, along with enhancing gains with debt.
The hedge fund firm has appointed 70 people to operate a full-service investment bank, along with starting three hedge funds. Citadel’s flagship funds, Kensington and Wellington, have returned about 52% through Sept. 1.
For the complete story, click here .
More Hedge Fund News:
HF Alleges UBS Misled It In CDO Sale
Pursuit Partners has sued UBS for selling its CDOs as investment grade when internal UBS emails between brokers referred to the securities as crap
IOSCO Outlines Standards For FoHFs
The International Organization of Securities Commissions has issued standards for funds of hedge funds mainly looking at liquidity risk and due diligence
True Beta Launches HF Platform
True Beta has started a new factorbased hedge fund replication service designed as an investable benchmark
