Richland Capital Quits Hedge Funds

Apr 30 2013 | 1:07pm ET

In a surprising move for one of Asia's most well-respected hedge fund managers, Richland Capital Management has shuttered its hedge funds and may close its doors entirely.

The Hong Kong-based fund, which managed about US$100 million in two hedge funds, has liquidated the portfolios and wound down yesterday, Reuters reports. It is unclear why Richland moved to pull the plug on the funds; both had posted solid returns and sources told Reuters that neither fund faced major redemptions.

The fate of Richland's advisory business, which has about US$150 million in assets, remains up in the air; a source told Bloomberg News that no decision has been made about it.

Richland co-founders Alex Au and Eva Lo, HSBC Holdings and Credit Suisse veterans, would not comment on the move. The decision to close was made about a month ago.

Richland's Asia Absolute Return Fund has posted positive returns every year since its December 2006 debut, including a 5.3% gain in 2008, a difficult year for hedge funds, and a 14.1% jump last year. The fund was up 6% in the first quarter of this year.

The firm's Richland Emerging Opportunities Fund, which launched in 2007, has had more mixed results, with positive gains in only two of the last five years. But the fund has done extremely well lately, rising 13.1% last year and about 18% in the first quarter.


In Depth

Hedge Funds Take Interest In ‘Soft Deposits’

Nov 19 2014 | 11:56am ET

New York-based Winchester Equities, headed by Avi Benamu and Jack Hazan, funds soft...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.