Russell To Close Two Funds Of Hedge Funds

Apr 3 2008 | 7:40am ET

Russell Investments is shuttering a pair of funds of hedge funds battered by poor returns and an avalanche of investor redemptions.

Russell, which also runs its famed eponymous indices, had already restricted investor withdrawals in its Alternative Strategies Fund and Alternatives Strategies Fund 2.

All told, the firm’s fund of funds unit has seen two-thirds of its assets evaporate in the past six months, and is left with just US$2 billion in assets under management.

The firm’s third main fund of hedge funds is not being shuttered.

Russell has set redemption dates on which investors will be able to receive their money back in parts.


In Depth

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

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

Cash: An Asset In Adolescence

Aug 31 2017 | 3:34pm ET

If the investment industry has a rebellious teenager in the house today, that teenager...