One year ago
QFS Asset Management founder Sanford Grossman donated an
unspecified stake of the firm to his alma mater, the University
of Chicago. The quantitative investor earned his B.A., M.A. and
Ph.D. in economics from the university and was a professor
there from 1981 to 1985. He is also a member of the board and
its investment committee.
"The success of QFS has been based upon the application of
the scientific tools that I was taught as a student at the
University of Chicago," Grossman said in a statement at the
time. "I can think of no better way to express my thanks to the
University, than by giving the University an opportunity to
benefit from the continued success of QFS." In return,
Chicago created the new Grossman Institute for Quantitative
Biology and Human Behavior.
The donation came as the
$1.4 billion Greenwich, Conn. firm began reporting mixed
QFS Currency Program, by far the firm’s
largest, earned 5.54% in 2011, compared with a 2.98% drop for
AR Managed Futures Index. But the
QFS Fixed Income Fund fell 4.52% compared with a 6.17% gain
for the AR Fixed Income Index, while the
QFS Macro Program gained 0.27% compared with a 1.07% gain
for the AR Macro Index.
QFS did not immediately respond to a request for
QFS picks up AR Award
Five years ago
»» BlackRock chief investment officer
Bob Doll predicted the U.S. Federal Reserve would begin
cutting interest rates at around midyear 2007 to ease inflation
pressure in the face of a slowing housing market. His outlook
proved spot-on: The Fed began lowering interest rates in Aug.
2007 and continued slashing them nearly uninterrupted for the
next year and a half.
That forecast was part of Doll’s annual "ten
predictions" for the year ahead, which the firm has been
publishing since 2001. Among
this year’s predictions: Slow U.S. growth, but
a double-digit return for domestic equities. Doll is also
optimistic that the European debt crisis will ease even as the
continent slips into a recession.
BlackRock did not respond to a request for comment.
Decoding BlackRock’s box (the October 2011
AR cover story)
New York firm Phoenix Investment Adviser, which managed
roughly $90 million at the time, said it was aiming to hit the
$200 million mark by the end of 2007.
That goal was reached, as the firm managed $275 million as
of Dec. 2007. The event-driven
JLP Credit Opportunity Fund was an attractive investment,
having produced a gain of 20.32% in 2006. It then produced a
0.06% gain in 2007 and suffered a loss of 42.33% in 2008 but
more than recovered with a rise of 158.63% in 2009 followed by
another banner year in 2010, gaining 36%. The fund dropped
17.56% in 2011, compared with a 5.21% fall for the
AR Event Driven Index. It now manages $304 million.
Phoenix did not respond to a request for comment.