Asian Hedge Fund Novatera Calls It Quits

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.


In Depth

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note