Apollo Pulls The Plug On London Metals Fund

Aug 11 2010 | 11:40am ET

Apollo Management has shut its metals hedge fund, which launched just last year.

The London-based Apollo Metals Trading Fund was seeded with US$40 million last March. But the fund was faced with a difficult commodity market, and fund manager Mark Thompson left the firm last month, Bloomberg News reports.

The Apollo fund invested in industrial and precious metals, as well as mining stocks.

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