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Saturday, August 9, 2008

08/09/08 A Paul Tudor Jones Shake Up Will Helps Clean Up Some Balance Sheets

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Pallotta planning to leave Tudor Investments


Jim Pallotta, a fund manager at Tudor Investment Corp., will start his own investment firm in 2009, according to a letter to investors that was cited in a Bloomberg report.

The $5 billion Raptor Global Fund that he manages will be spun off Jan. 1 from Greenwich, Conn.-based Tudor, where he has worked for 15 years. At the new firm, Mr. Pallotta will continue to manage the Altar Rock fund.

At the new firm, Mr. Pallotta will continue to manage the Altar Rock fund as well as money from Tudor's BVI Global Fund Ltd.

The Raptor fund has dropped 21% since May 2007. Year-to-date through July 23, the fund had fallen 6.6%. It has posted an annualized return of 16% since August 1993.

Tudor Investment’s BVI fund, which trades stocks, bonds, currencies and commodities, had gained 2.3% this year through July 23, but it has posted an annualized return of 23% a year since October 1986.
Please Also See:

08/04/08 A New School And One Laptop Per Child - Glenville PTA Leaders Should Go Up To 1275 King Street And Invite Paul Tudor Jones On A Fishing Trip

04/02/08 - Do Greenwich Hedge Fund Guys Like Obama, Because They Think He Is The Man To Their Bidding

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