Friday, 30 January 2015
Last updated 3 hours ago
May 30 2012 | 12:52pm ET
Add another Asian hedge fund to the scrap heap.
Singapore's Novatera Capital has closed its doors and returned its capital to investors. The long/short small-cap equity hedge fund had lost about 16% last year.
Founder Robert Lewis told Reuters that he returned the last of the money about two weeks ago. He added that he is working on other projects now—including a class on value investing—that will not involve his managing money.
The former JPMorgan Chase executive had managed about US$90 million at Novatera, down from a peak of about US$130 million.
The Asian hedge fund industry continues to contract this year, after seeing 140 funds close their doors last year.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…