{"id":46,"date":"2003-05-12T00:00:00","date_gmt":"2003-05-12T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"hedge-fund-portfolio-shrinks-at-pxre","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/05\/2003\/hedge-fund-portfolio-shrinks-at-pxre.html","title":{"rendered":"Hedge Fund Portfolio Shrinks at PXRE"},"content":{"rendered":"<p>HAMILTON, Bermuda (HedgeWorld.com) &#8211; Reinsurance company PXRE Group Ltd. reduced its hedge fund portfolio by US$4.2 million in the first quarter of this year.<\/p>\n<p>  The net reduction came amid a quarterly period when its hedge funds returned 8.2% on an annualized basis, according to its quarterly earnings report. In the same period, the CSFB\/Tremont Hedge Fund  index returned on an annualized basis 9.2%.<\/p>\n<p>  PXRE officials couldn&#8217;t be reached for comment.<\/p>\n<p>  The PXRE hedge fund portfolio stood at US$111 million as of March 30, down 1.4% from its Dec. 31 value of US$113 million, according to its financial statements. Unrealized market appreciation in  hedge funds added almost US$1 million to its coffers.<\/p>\n<p>  PXRE is one of a handful of reinsurance companies investing a portion of assets in hedge funds, and as of March 31, hedge funds represented 14% of its investment assets. PXRE in the previous  quarter had increased this size of its hedge fund portfolio by US$26 million.<\/p>\n<p>  PXRE&#8217;s corporate earnings came in at US$23.6 million, up from US$18.2 million in the first quarter of 2002.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HAMILTON, Bermuda (HedgeWorld.com) &#8211; Reinsurance company PXRE Group Ltd. reduced its hedge fund portfolio by US$4.2 million in the first quarter of this year. The net reduction came amid a quarterly period when its hedge funds returned 8.2% on an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-46","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/46","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=46"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/46\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=46"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=46"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=46"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}