Saturday, 13 February 2016
Last updated 7 hours ago
Jun 10 2013 | 10:08am ET
F&C Investments has shuttered a listed hedge fund it acquired when it bought Thames River Capital three years ago.
The firm said it was winding-down the Thames River Multi Hedge Fund and returning capital to investors. The fund, managed by Ken Kinsey-Quick, has about £56 million in assets under management.
F&C announced plans to shut the fund last year, due to underperformance and its discount to net asset value. The firm also said it had suffered £4.9 billion in outflows in the fourth quarter.
F&C shuttered another Kinsey-Quick fund two years ago; he continues to manage three other funds at the firm.
The demise of the Multi Hedge Fund is only the latest among the rapidly-shrinking listed hedge funds industry.