Meriwether Offers Early Exit From Beat-Up Hedge Fund

Apr 28 2008 | 11:41am ET

A decade after his Long-Term Capital Management imploded, John Meriwether has once again become the bearer of bad news.

Meriwether’s JWM Partners has seen both of its hedge funds bleed red ink this year, leading the firm to offer investors an early exit. Hedge Fund Manager Week reports that JWM has given clients of its $380 million Global Macro Fund permission to withdraw their money ahead of the redemption period after the fund dropped 14% in the first quarter.

The Greenwich, Conn.-based firm did not say how many investors took up its offer.

The losses at the Global Macro fund, however, pale in comparison to JWM’s flagship product: The Relative Value Opportunity Fund, which managed $1.2 billion at the beginning of the year, was down 31% in the first quarter.


In Depth

Q&A: MackeyRMS's Chris Mackey On A High Tech Fix To Broker Votes

Jun 23 2017 | 8:17pm ET

The looming implementation of the EU’s MiFID II rules regarding research has put...

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

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 

From the current issue of