FRM To Close Listed Credit Hedge Fund

Nov 29 2010 | 12:29pm ET

Financial Risk Management is throwing in the towel on its listed Credit Alpha fund.

The firm said last week that investors voted against continuation of the fund at its annual meeting and that it " will be consulting with shareholders regarding options for winding up, reorganizing or restructuring" the three-and-a-half-year-old fund.

FRM Credit Alpha is the second listed FRM fund to bite the dust in as many years. Last summer, the firm asked investors to vote to wind-up its US$70 million Diversified Alpha fund.

Both funds were listed on the London Stock Exchange.

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