Hedge king Stanley Fink’s crown slips as fund tumbles
Monday 07 October 2013
The “godfather of the hedge fund industry” has seen assets at his latest vehicle almost halve in the past 18 months because of client redemptions and losses.
Stanley Fink said funds under management at International Standard Asset Management fell to $585m (£364m), leading to wholesale changes at the company. “It’s a bit like when you lose a few races in Formula 1,” he said. “You realise your car wasn’t as fast as you thought, so you go back and re-engineer every part. The system is now very leading-edge.”
The ISAM Systematic fund fell 14 per cent in the nine months ending September, Bloomberg reported. It has changed some managers, increased the number of markets in which it operates and launched an internal review.
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