Queensland Cuts Quant Fund

Feb 8 2013 | 4:26am ET

Australia's Queensland Investment Corp. is getting out of the business of betting on Asia, quantitatively.

The firm has shut down its quant. unit, QIC Quantitative Management, and closed the Asia-Pacific fund it managed. The QIC Asia Pacific Market Neutral Fund, which debuted in 2009, had only US$19 million in assets when Queensland pulled the plug; the liquidation, which began in September, is still ongoing, Asian Investor reports.

QIC Asia Pacific never impressed, returns-wise. It gained 0.7% in 2010, lost 2.83% in 2011 and rose 6.7% last year before Queensland elected to close it.

Two members of QICQM's three-person team, Joe Cole and Michiel Swaak, have left the firm. The other, Timothy Sharp, has moved to a different job at Queensland.


In Depth

Direct Lending: What’s Different Now?

Mar 14 2017 | 8:43pm ET

Senior direct lending funds have become riskier over the past four years, with leverage...

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

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of