Sunday, 21 December 2014
Last updated 11 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.