Fund Of Funds Eddington To Close

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.


In Depth

Q&A: George Schultze On His Fund's Unique Approach to Distressed Investing

Apr 16 2015 | 1:01am ET

George Schultze is a managing member of Schultze Asset Management, a long/short...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Minnesota Supreme Court Rejects The Ponzi Scheme Presumption: Lenders Claw Back Some Of Their Own Rights

Apr 17 2015 | 9:23am ET

A recent court ruling in Minnesota has put an end to the Ponzi Scheme Presumption...

 

Editor's Note