Wednesday, 25 November 2015
Last updated 9 hours ago
May 24 2012 | 1:20pm ET
Another Asian hedge fund has bitten the dust, after its seed investor pulled its money.
Orvent Asset Management has closed its doors after Burmmer & Partners redeemed its investment in April, Reuters reports. The Singapore-based firm's event-driven fund had about US$130 million in assets under management.
Orvent was founded by former Millennium Management portfolio manager Scott Collison in late 2010, with backing from Brummer, one of Europe's largest hedge funds. But it lost 7.3% last year and is down 3.6% this year.
Collison ran Orvent with four staffers and support from Brummer.
The decision to pull the plug on Orvent leaves Brummer without any hedge funds in Asia. The Swedish firm last year closed its Karakoram Asian stock fund after it lost 15.4% in 2010.
Orvent joins the more than 140 Asia-focused hedge funds that closed their doors last year.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…