Thursday, 28 May 2015
Last updated 6 hours ago
Dec 15 2011 | 2:10pm ET
After shutting its flagship hedge fund, James Caird Asset Management will launch a new one.
The London-based hedge fund told investors yesterday that it would liquidate its eight-year-old JCAM Global Fund—which started at Moore Capital Management—due to poor performance this year. The $1.6 billion hedge fund is down 8.9% this year; James Caird founder Tim Leslie said he'd begin returning money new month.
Next year, James Caird, which has two other funds that will continue trading, will launch a new fund with a "narrower trading focus," Leslie wrote to investors yesterday. The new fund will be managed by Leslie deputy Robert Miller.
Leslie said he hoped to raise $500 million for Miller's fund, and would cap the fund at about that level, Bloomberg News reports.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by partcipating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…