Wednesday, 26 November 2014
Last updated 6 hours ago
Mar 14 2008 | 10:32am ET
Boston-based Andesite Management is reportedly pulling the plug on its healthcare hedge funds because they lack sufficient capital to compete in the current market.
Andesite principal Hamilton Mehlman told investors last week that he’s shutting down the $100 million shop and will return capital in the Andesite Life Sciences funds at the end of May, according to HFAlert.
But despite closing up shop, Mehlman remains optimistic on the healthcare sector, which he said should benefit from population growth, increasing worldwide wealth and technological advancement, and urged his investors to stay in the sector.
Mehlman did not return calls for further comments.
Mehlman founded Andesite in 2003 and since inception his funds have averaged annual returns of 16.8% through 2007.
Prior to starting Andesite, Mehlman managed a life science hedge fund for Essex Investment.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...