Narragansett Closes Its Doors

Sep 30 2006 | 9:10am ET

Lost among all the ink spilled over the Amaranth Advisors disaster is the demise of another billion-dollar hedge fund. New York’s Narragansett Asset Management is closing shop – for now – and has liquidated 80% of its portfolio, aiming to return funds to investors by the end of this month.

The fund, which took in $250 million in new money less than a year ago, was down 2% this year, according to a letter to investors from manager Joseph Dowling.

Dowling apparently plans to take a year or year-and-a-half off and then will “take a fresh look at our historical investment results and fine-tune my investment strategy.”


In Depth

Q&A: Sancus Capital And The Disruption Of The CLO Market

Oct 5 2017 | 6:28pm ET

Traditional collateralized loan obligation (CLO) funds in the U.S. market can offer...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Finding Success as Alternatives Converge

Oct 9 2017 | 4:00pm ET

Rising interest among institutional investors over the past several years has led...

 

From the current issue of