Sunday, 8th November 2009

 

19 May 2009 - Press Briefing

Ospraie unveils commodities-focused funds

Ospraie Management is unveiling two funds focusing on commodities and other liquid securities just eight months after it was forced to wind down its flagship vehicle amid massive losses on commodities trades, according to a report in the Financial Times.

In a letter to investors, Dwight Anderson, the US hedge fund’s founder, offered a permanently slashed fee structure of a 1% management fee and a 10% cut of profits. Anderson also revealed that he and his partners had bought back the 20% ownership holding in Ospraie that was sold to Lehman Brothers in 2005, as cited in the FT report.

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Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

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