Superfund Shuts Six Offices

Jun 14 2010 | 12:02pm ET

Retail hedge fund firm Superfund is cutting back after a difficult 2009.

The managed futures shop, which manages about US$1.24 billion, has shut six offices around the world and laid off staff to cut costs. Superfund blamed a tough business environment for the move.

The firm has closed its sales offices in Dubai, Liechtenstein, São Paolo, Brazil, Singapore and Sydney, Australia. In addition, it has shut an administrative office in Monaco.

The closures leave Superfund with offices in Amsterdam, Milan, Frankfurt, Warsaw, Zurich, Luxembourg, Montevideo, Tokyo, New York, Hong Kong and Vienna.

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