Saturday, 28 November 2015
Last updated 5 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…