Thursday, 2 October 2014
Last updated 16 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."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
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