Saturday, 26 July 2014
Last updated 20 hours ago
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.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…