Sunday, 29 November 2015
Last updated 1 day ago
Oct 15 2008 | 11:54am ET
Embattled hedge fund Absolute Capital Management says it is closing two more hedge funds because of increasing redemption from investors.
Specifically, the firm said that since the lock-in period for the A class portfolios of the Absolute Return Europe Fund, Absolute European Catalyst Fund, Absolute East West Fund and Absolute Octane Fund is about to end, it has decided to close the East West and Octane funds at the end of the month. The firm is also closing the Absolute Activist Value Fund at the end of the month.
In January, AbCap closed the Absolute India Fund in January despite “excellent” performance because it had become too small to continue trading. Over the past 10 months, AbCap has also completed the transition of the Absolute European Catalyst Fund, Absolute Return Europe Fund and Absolute Germany Fund to European mid-to-large cap trading strategies.
The tweak has helped the funds’ returns to above-market gains so far. In particular, The Absolute Germany Fund and the Absolute Large Cap Fund, have returned 18.19% and 10.57% YTD respectively.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…