Wednesday, 20 August 2014
Last updated 9 hours ago
Aug 16 2010 | 7:27am ET
Eddington Capital is closing its doors after watching its assets under management dwindle by more than half over the past two years.
The seven-year-old London fund of hedge funds shop will liquidate its funds and return assets to investors. The firm’s assets under management have fallen to US$115 million from their peak of US$265 million in 2008, a year in which its Macro Opportunities fund rose 22%—while the average hedge fund lost a similar amount.
“The funds have been losing assets gradually over the last 24 months,” CEO Glenn Baggley told Reuters. “They’ve reached a level that can no longer be sustained.”
Eddington is a joint venture of the hedge fund’s management and Caledonia Investments.
All three of Eddington’s funds of funds are listed on the Irish Stock Exchange.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note