Tuesday, 7 July 2015
Last updated 14 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.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…