K2 Cashes Out Currency Fund

Apr 30 2012 | 2:35pm ET

K2 Advisors is to shut its fund of currency hedge funds after the departure of its portfolio manager.

The Connecticut-based firm decided to close the six-year-old Active Currency Fund, the first specialist currency fund of funds when it launched in 2006, after the manager resigned. It will liquidate the $22 million fund and return money to investors; in its place, K2 plans to launch a macro fund of funds that will include currency managers, HFMWeek reports.

The decision to shutter the Currency Fund ends its somewhat turbulent life: The fund was comprehensively restructured two years ago after all of its underlying foreign exchange managers closed.

K2's new fund of funds will debut on May 1. But at least one of the Currency fund's current investors won't be sticking around to see it.

The $3.1 billion Ventura County (Calif.) Employees' Retirement Association will redeem its $10 million commitment to the fund, it told HFMWeek. The pension said it expected to get $8 million back.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.