Another hedge fund is calling it quits amid the economic turmoil.

Singapore-based Tantallon Capital has shuttered its Smaller Companies Fund, according to media reports. 

The $18 million fund was down almost 26% through July.

The small-cap long/short fund sank 25.6%—with assets sinking from $29 million in February—on bad bets on Asian stocks.

Asian hedge funds have been hit particularly hard by the market troubles. Tantallon’s $877 million flagship fund is down by almost as much as the closed fund through August. Other Tantallon funds have not fared much better: The firm’s Bass Rock Fund, is down 28% through August, its BRIC Fund is down 15% and its Japan Fund is down 6.6%.