Permal?
Hi guys. I am a long time lurker, first time poster. I've been following for my 2 yr in ER and all of undergrad.
So, this is actually for my dad since I can't really help him on it. Does anyone know the hedge fund-of-funds Permal? I don't know much about HF (mostly from what I read here actually). My father is invested in the Permal fund of funds for a number of years, it was sold to him by his FA. He forwarded me this article from WSJ and had a lot of questions.
http://online.wsj.com/article/SB10001424052702304…
He is worried his FA did not tell him about any problems and doesn't know what they could be. Yet, he says Permal fund has done well in terms of performance. He has about 5% of his savings in the fund.
Does anyone have any more information on the situation? What would you do? He can take his money out every month.
so your a rich kid eh? :)
only 5% of his savings?
hum......
Thats why its called homework.
I think the fund's minimums are like $100K, so his dad is worth at least $2M...
Most investors do like zero homework...even in the HNW space...it's quite amazing actually (not disparaging the OP's dad or saying this is relevant to him - actually no amount of HW would prep you for something like this as far as I could tell from reading the blurb, so just sayin')
Permal has a lot of different funds. Which one(s) is your dad in? PM me the article because I'm not a WSJ subscriber...
in other words you don't know shit about finance...
In other words YOU DONT KNOW SHIT ABOUT FINANCE.
If you get all your news from the WSJ you are a lemming.
And I believe Alex runs his own hedge fund so yes he knows a hell of a lot about finance.
WSJ is not that relevant to what I do, plenty of free sources for mainstream finance news.
I think the real lemming here is the douche who can't detect sarcasm.
Sorry buddy but there was no possible way to detect sarcasm in that sentence.You didnt even post a little smiley face etc.
what I really think happened is that you fucked up. You tried to be all high and mighty i am smarter than you to Alex then when you realized that I posted and said Alex was a hedge fund manager you decided to cover your ass with the above post.
but whatever, yea you are right i couldnt detect the sarcasm in your post online on a forum in a random universe some where.
I know Alex, i was defending you :)
I know, thank you. I just quoted your reply but wasn't going against it.
no offense, alex (hope you picked up on the sarcasm)
Lol you guys crack me up...
Anyone else? Have gotten a few interesting points on the fund-of-funds industry, but no one who knows about Permal funds in particular. I very much appreciate it!
Permal is legit and have been around for a long, long time. Judging by the article a couple of their funds must hold a lot of funds with sidepockets. Doesn't sound like something to be overly concerned about considering the lack of details on the situation.
.
Alex, you should be offended by everything prodigy and swagon said. Just do it.
Permal Group (Originally Posted: 09/13/2012)
Any insight on their exit opps to other funds that actually invest? Not FoF.
I'd be looking at a part-time intern role whilst I'm at college (London) during the year, my background is macro AM/HF (last summer) and M&A SA this summer if it helps.
Came across a few threads before and majority of them mentioned the possibility of getting pigeonholed? How about research?
Any insight highly appreciated.
Bump.
Bump bump.
Permal fund-of-fund SA- exploding (Originally Posted: 02/20/2013)
Any thoughts or experience with Permal's Asset Management Investment team for summer internship? How would an internship there compare to regular AM and how does it rank in terms of interestingness/prestige/exit opps?
Thanks.
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