Boyer Allan To Shutter Two Hedge Funds

Dec 16 2011 | 5:12am ET

Hedge fund Boyer Allan Investment Management will close two of its three funds amidst falling performance and assets.

The Hong Kong- and London-based firm will shut both its Pacific and Greater China funds, whose assets have dropped from $638 million to about $375 million this year, Reuters reports. The former is down 18.7% this year and the latter 7.8%.

Boyer Allan, which managed $1.8 billion prior to the financial crisis, will continue to manage its Pacific Opportunities Fund.

Boyer Allan is the latest firm to close hedge funds in Asia. More than 123 in the region have liquidated this year.

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