Friday, 30 January 2015
Last updated 9 hours ago
Jan 10 2013 | 2:01pm ET
Last year saw a raft of high-profile hedge funds close their doors. Now, 2013 has its first well-known casualty.
Hong Kong-based Triskele Capital Management will close its two hedge funds, it told investors, Bloomberg News reports. The firm blamed both poor performance and investor redemptions; its assets under management have fallen to US$132 million from a peak of US$600 million.
It's not clear whether Triskele, which was founded in 2006, will survive in any form. Tsuyoshi Shiba, the firm's co-founder and chief investment officer, said no decision has been made about the future of the management company.
Shiba said that its China Fund has performed poorly for two years, including a 9% drop last year. The firm's US$12 million CB Fund, a convertible securities vehicle, did much better, but is being closed due to its small size.
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…