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

OmniQuest Capital: Why Funds of Hedge Funds Work

Aug 11 2016 | 4:47pm ET

There have been few sectors of the alternative investment universe under as much...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...