{"id":10127,"date":"2009-03-18T00:00:00","date_gmt":"2009-03-18T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"fund-at-covenant-capital-rebounds-as-market-sags","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/fund-at-covenant-capital-rebounds-as-market-sags.html","title":{"rendered":"Fund at Covenant Capital rebounds as market sags"},"content":{"rendered":"<p>Charlotte Business Journal &#8211; In early 2008, Jim Morgan and his partners at Covenant Capital sent a gloomy letter to their investors.<\/p>\n<p>After a couple of disappointing years, the letter said, the hedge-fund firm was preparing to close. It told investors how they could retrieve their funds.<\/p>\n<p>While a handful of investors took their money, a number asked Morgan, now chief executive of Krispy Kreme Doughnuts Inc., and his team to continue.<\/p>\n<p>They did. And Covenant went on to have one of its best years in 2008, even as the market was collapsing.<\/p>\n<p>Covenant&rsquo;s fund finished 2008 up 12%, while the S&amp;P 500 ended the year down 38% and the Dow Jones Industrial Average dropped 34%.<\/p>\n<p>With less than $10 million in assets, the firm is now reopening the fund to new investors as well as accepting additional capital from existing investors.<\/p>\n<p><a target=\"_blank\" href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/charlotte.bizjournals.com\/charlotte\/stories\/2009\/03\/16\/story8.html?b=1237176000^1793373\">Read Complete Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Charlotte Business Journal &#8211; In early 2008, Jim Morgan and his partners at Covenant Capital sent a gloomy letter to their investors. After a couple of disappointing years, the letter said, the hedge-fund firm was preparing to close. It told [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[643,2410,4439,9206,9205,67,9207,4441,420,2905,676,4504,9202,9204,9203,48],"class_list":["post-10127","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-10-million","tag-amp","tag-assets","tag-business-journal","tag-charlotte-business","tag-chief-executive","tag-covenant","tag-dow-jones-industrial","tag-dow-jones","tag-dow-jones-industrial-average","tag-handful","tag-investors","tag-jim-morgan","tag-kreme-doughnuts","tag-krispy-kreme-doughnuts-inc","tag-money"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10127"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10127\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}