Tuesday, 7 July 2015
Last updated 13 hours ago
Oct 17 2013 | 2:51pm ET
Egerton Capital has become the latest hedge fund to start turning away investors.
The London-based firm shut its long/short fund to new money late last year, and has now done the same for its long-only fund, Reuters reports. Egerton's assets have soared 80% over the past year as investors flocked to the high-performing strategies. The firm now manages US$11.4 billion, roughly equally split between its funds.
A year ago, Egerton had just US$6.3 billion in assets.
Egerton's hedge fund is up 19% this year and its long-only fund is up 25%.
Egerton, founded in 1994 by John Armitage and William Bollinger, reopened in 2008 after suffering losses in the financial crisis that cut its assets in half, to just US$4 billion. It joins a number of prominent managers, including D.E. Shaw Group, in closing to new investors recently.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…