Wednesday, 23 July 2014
Last updated 15 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.
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…