Tuesday, 7 July 2015
Last updated 1 hour ago
Mar 30 2011 | 1:16pm ET
A technology hedge fund founded by a longtime former SAC Capital Advisors manager is no more.
Stefan Frank shuttered his FISAM Capital a few weeks ago after a single large investor moved to redeem. The New York-based firm, founded in November 2009, was managing less than $100 million.
Frank, who spent nearly a decade at SAC managing technology stocks, found it difficult to continue trading without the large investor's capital, Reuters reports.
FISAM is still unwinding its portfolio and returning money to investors.
FISAM has returned about 6% since it launched in December.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…