Saturday, 25 April 2015
Last updated 8 hours ago
Oct 8 2010 | 12:33pm ET
Despite strong performance, another smaller hedge fund is biting the dust.
Amoeba Capital Partners plans to return money to clients by the end of the year and close its doors. Ashutosh Sinha, the former head of Asian investments at Morgan Stanley who founded the firm in 2006, blamed a "tough" environment for smaller funds.
"It's not easy for smaller firms," he told Bloomberg News. "All the money is going to the large firms."
And, he might have added, leaving his own. Amoeba's Asia Fund has returned 67% since its inception, and is up 5.1% this year. Still, withdrawals have cut its assets under management to just US$135 million from a peak of US$750 million.
Sinha said Singapore-based Amoeba's staff is already being pursued by potential employers.
"They should find reasonable opportunities given their experience," he said. "A lot of them are already being sought after so it should not be a problem."
As for his own future, Sinha describes the liquidation of Amoeba as the start of a "sabbatical."
"A lot of people are trying to take a break in this very tough market environment," he told Bloomberg. "Maybe I'll be back at some point after a break and see what we can do."
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…