Wallace Reshuffles Front Line

Dec 5 2008 | 12:04pm ET

Sydney, Australia-based hedge fund shop Wallace Absolute Return has removed Richard Wallace from his post as managing director of the firm, effective Dec. 4. 

Wallace will continue to serve as a director. In his stead, the firm has appointed CEO Michael Birch to replace Wallace as firm secretary.

Birch formerly ran the Wallace Australia Opportunities hedge fund and returned an average 18.2% since inception in October 2005, Bloomberg reports. Wallace Absolute Return, a listed fund that invests in Australian equities and fixed income securities, has lost 81% on the Australian stock exchange this year.


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