Exane Institutes New Money Limits For Archimedes Fund

Apr 16 2015 | 12:46pm ET

Exane Asset Management has set investment restrictions on its flagship fund Archimedes long/short equity fund after a significant rise in AUM this year. 

The Paris-based firm began limiting new capital entering the Exane Funds 1 – Archimedes, a Luxembourg-domiciled fund, as of February 1, according to media reports citing an investor update. 

The fund currently has €873 million in assets, which represents a significant increase over the €599 million in AUM as of the end of 2014. The soft close measures are expected to remain in place until the second half of the year. 

This is the second time Exane’s Archimedes has been closed to new money. The previous time occurred at the end of 2010 following a similar surge in inflows. 

The fund has returned 14.2% in local currency terms over the three years through the end of February 2015.

Founded in 1990, Exane is a private investment company specializing in European equities, equity derivatives and asset management. The firm’s asset management business manages approximately €2.5 billion across 13 complementary funds. 

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