Saturday, 25 February 2017
Last updated 12 hours ago
Mar 20 2012 | 1:32pm ET
Hedge fund TIG Advisors is pulling the plug on its emerging markets portfolio.
The New York-based firm is liquidating the $210 million Global Emerging Markets fund, it told investors. The 15-year old fund, which once managed $1.5 billion, had suffered two straight losing years, including 11% last year, Reuters reports.
"Our Global Emerging Markets funds have been closed and are being liquidated," TIG wrote in a March 9 e-mail.
TIG still manages four other hedge funds with a combined $1.1 billion in assets.