Legal & General Pull Plug On Japan Equities Hedge Fund

Dec 21 2009 | 2:09pm ET

The Asian hedge fund industry may be turning around, but Legal & General Investment Management won’t be a part of it.

The firm is closing its US$36 million Japan Alpha fund, a long/short equity vehicle launched in 2004. LGIM has appointed a liquidator for the fund, Investment Week reports.

Japan Alpha fell 18.3%, in line with the average hedge fund, but was up only 0.9% through the first five months of this year.

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