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

Humble in Hofstra...One Debate an Election Can Make

Sep 26 2016 | 10:20am ET

Tonight's U.S. Presidential debate, infamously coined the “Humbling in Hofstra...

Lifestyle

Vortic: Reimagining the Custom Wristwatch

Sep 27 2016 | 7:24pm ET

American watch manufacturer Vortic, which started out restoring antique pocket watch...

Guest Contributor

Malik: The Ever-Changing Middle Market and The Entering Class of 2016

Sep 2 2016 | 5:01pm ET

Deal sourcing and origination is only going to get more competitive given current...