Updated: GMB Capital Closes Low Vol. Fund

Jan 12 2009 | 2:40am ET

Boston-based GMB Capital Management is closing its Low Volatility Fund after losing more than half its value. The fund had approximately 17% of its assets invested in a feeder fund that invested with alleged fraudster Bernard Madoff, but according to a firm spokesman, the decision to close the fund was made in November, well before Madoff’s arrest in December.

At its peak, GMB’s Low Volatility Fund had $50 million. The spokesman said the fund was being shuttered so the firm could focus on its core strategies.

GMB is run by Gabriel Bitran, a Massachusetts Institute of Technology professor, and his son, Marco.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...