Thames River Asks Shareholders To Close Fund Of Funds

Aug 7 2012 | 2:55pm ET

Thames River Capital plans to close a listed fund of hedge funds next month.

The fate of the Multi Hedge Fund, managed by Ken Kinsey-Quick, will go to a shareholder vote on Sept. 11. The £54 million fund’s performance suffered last year and it has traded at a consistent discount—currently 12%—this year.

“The board of the company outlined proposals for a managed wind-down which, if approved by shareholders, will lead to realizing the company’s investments and returning the cash to over time,” Thames River said.

Kinsey-Quick invested most of the fund’s assets in long/short equity hedge funds, with additional exposure to multi-strategy and credit managers. The fund debuted in 2004.

The expected closure of the Multi Hedge Fund is the second time in as many years that Thames River has shut a Kinsey-Quick-helmed fund; last year, his Absolute Return Fund got the ax due to lack of investor interest. He continues to manage four other funds of funds at Thames River.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...