{"id":39852,"date":"2017-08-10T05:38:00","date_gmt":"2017-08-10T05:38:00","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=39852"},"modified":"2017-08-10T05:38:00","modified_gmt":"2017-08-10T05:38:00","slug":"hedge-fund-pine-river-loses-2-billion-12-months-july","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/hedge-fund-pine-river-loses-2-billion-12-months-july.html","title":{"rendered":"Hedge fund Pine River loses $2 billion in 12 months to July"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Hedge fund Pine River loses $2 billion in 12 months to July<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Hedge fund Pine River loses $2 billion in 12 months to July: Hedge fund firm Pine River Capital Management&#8217;s flagship fund has lost about 68 percent of its assets in the 12 months to July, according to data compiled by HSBC.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Assets in the multi-strategy fund dropped from $2.99 billion in July 2016 to $960 million in July 2017, the data showed.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Minnetonka, Minnesota-headquartered Pine River, which also has offices in New York, London, Hong Kong and Luxembourg, has hit hard times in recent years, shedding partners, assets and funds.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Firm-wide assets fell from $15 billion in 2015 to $8.5 billion in July 2017, according to a source close to the firm who asked to remain anonymous because Pine River is a private partnership.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The fund returned 1.7 percent in July and is up 1.2 percent for the first seven months of 2017, said a person familiar with the results, who also asked not to be identified.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">A year ago, the firm consolidated its fund lineup when it closed its Pine River Fixed Income fund, which posted a 93 percent return in 2009, and said clients could switch their money to the Pine River Fund.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">In early June 2016, the portfolio had $3.6 billion in assets. At that time, the firm&#8217;s founder, Brian Taylor, told clients: &#8220;We now believe we can best serve our investors by managing a single flagship multi-strategy fund &#8211; the Pine River Fund &#8211; which embodies our full opportunity set, rather than simultaneously managing two multi-strategy vehicles.&#8221;<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Pine River is currently changing some of its trading strategies, and ending long-short equity trading, according to a report from Bloomberg in July.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:http:\/\/www.reuters.com\/article\/us-hedgefunds-pineriver-idUSKBN1AP24B<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/hedge-fund-pine-river-loses-2-billion-12-months-july.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Hedge fund Pine River loses $2 billion in 12 months to July Hedge fund Pine River loses $2 billion in 12 months to July: Hedge fund firm Pine River Capital Management&#8217;s flagship fund has lost about 68 percent of its assets in the 12 months to July, according to data [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":39859,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[41136,30039,30037,30036],"class_list":["post-39852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-hedge-fund-pine-river-loses-2-billion-in-12-months-to-july","tag-latest-business-updates-usa-news","tag-usa-business-and-regional-news","tag-usa-latest-business-and-regional-news"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/39852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=39852"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/39852\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/39859"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=39852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=39852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=39852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}