Wednesday, 20 August 2014
Last updated 2 hours 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.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note