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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...

 

From the current issue of