Friday, 27 May 2016
Last updated 37 min ago
Dec 17 2009 | 12:37pm ET
For Tudor Investment Corp., $1.3 billion in new money is plenty.
The legendary hedge fund has closed its flagship BVI Global Fund to new money. Meanwhile, the Greenwich, Conn.-based firm told clients that it was closing its Global Emerging Markets Fund altogether.
The Singapore-based fund is being closed due to poor relative performance, the firm told investors yesterday. The liquidation of the emerging markets fund was first reported by Clusterstock.
The firm had accepted new investment in BVI from March, when it lifted redemption restrictions imposed last December, through July. BVI accounts for roughly $9.5 billion of Tudor’s approximately $11.5 billion in assets.
“The fund remains at capacity at this time,” firm founder Paul Tudor Jones told investors in a letter at the end of September. BVI is up about 17% through the first three-quarters of the year.