F&C To Liquidate Event-Driven Fund Of Funds

Oct 22 2008 | 12:02pm ET

London-based F&C Investment is winding down its event-driven fund of hedge funds to repay investors. The £64.2 million (US$109.5 million) fund launched in June 2007 and has lost 27.2% since inception.

Jason Hollands, the head of communications at F&C, said the firm’s board of directors already had 75% of shares so they could not meet investors' redemption demands through a share buyback.

“In the challenging market we're in they also felt they would be unable to dilute their shareholding through new investments,” he said.

The planned move will be voted on by shareholders at their next meeting.

In Depth

Related-Company Fees: Normal Industry Practice or Conflicted Compensation?

Nov 11 2015 | 4:23pm ET

Regulatory agencies as well as investors are increasingly exploring whether certain...


Ferrari Roars in Wall Street Debut

Oct 21 2015 | 4:28pm ET

Shares of supercar maker Ferrari jumped as much as 15 percent to a high of nearly...

Guest Contributor

Private Debt - What is the Opportunity?

Nov 11 2015 | 3:28pm ET

In this contributed article, Rob Allard, founding partner of Firebreak Capital...


Editor's Note

    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…