Wednesday, 27 August 2014
Last updated 9 hours ago
Mar 3 2010 | 1:36pm ET
Nevsky Capital will close its flagship hedge fund after its managers—including a founder of the US$7.5 billion London-based firm—announced plans to step down.
Martin Taylor, Nevsky’s chief investment officer, and Nick Barnes will resign from the firm in March 2011.Nevsky’s flagship fund, which manages US$3.3 billion, will not survive them. The firm told investors that it would likely choose to wind down the vehicle, which has returned 780% since its inception as part of Thames River Capital 10 years ago.
“Given the highly specialized nature of the fund’s mandate and the central role that Martin and Nick fulfill in this regard, neither the manager nor the investment adviser believe they are able to offer the fund alternative management arrangements from within the manager or investment adviser,” the fund’s directors told investors today.
Nevsky’s board is meeting to discuss its options, and could choose to pursue a new management team for the fund, but is expected to pull the plug. The fund is down 3.5% this year after soaring 32% last year.
Taylor and Barnes will continue to manage Nevsky’s long-only Global Emerging Markets fund and a pair of UCITS III-compliant funds until their departure in 12 months’ time.
“Whilst Martin’s and Nick’s enthusiasm for the fund’s strategy remains , neither individual feels able to commit to managing the fund’s portfolio with the intensity that they would wish to continue to provide, beyond March 2011,” Nevsky explained.
Both Taylor and Barnes have been with Nevsky since its spin-off from Thames River three years ago.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...