British polling and market research firm YouGov has been forced to abandon plans for a hedge fund after its partners were unable to raise money for it.
YouGov in May announced plans to start a hedge fund using its polling data to make bets on the banking, retail, travel and leisure industries, among others. But Numis Securities and Four Capital Partners were unable to drum up enough interest.
“Prevailing market conditions were not conducive to the launch of this fund,” YouGov said, adding that it would end the joint-venture with Numis and Four Capital.
“It is not the greatest moment to launch such an idea,” YouGov CEO Nadhim Zahawi told the Financial Times. “The opportunity to use primary research to inform trading decisions is very strong for us.”