Tell To Close, Spin-Off One Fund

Jan 19 2012 | 2:12pm 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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Opportunities Ahead: Asian Fixed Income and Currency Markets

Apr 24 2015 | 6:18am ET

For hedge funds focusing on Asia, the policy uncertainty, unclear interest rate...

 

Editor's Note