Tell To Close, Spin-Off One Fund

Jan 19 2012 | 3:12pm ET

Having missed the mark for three years running, hedge fund Tell Investments is hanging up its bow and quiver.

The 15-year-old firm's chief investment officer, Patrick Schegg, decided to throw in the towel last year, Reuters reports. The firm will liquidate its flagship hedge funds, William and Tell, and spin off its Walter Fund next month.

Tell, which debuted in 1996, ran €1 billion at its peak and has offices in Switzerland, London and Malta. But the William and Tell funds now have a combined €600 million, money which the firm has begun to return to investors.

The Walter Fund will be handed to partner Olivier Laime, who has founder Walter Capital Management in Switzerland. The fund will move to the new firm in February.

Schegg chose to close Tell after deciding that the current market environment was too difficult to make money. Tell and William lost about 5% last year, in line with the average fund, and have been flat for the past three years.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of