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Monday Sep 8 2008
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The 6am cut - Alphaville by email
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Russell closes two fund of funds
Russell Investments is closing down two of its three main hedge fund of funds after assets under management in the division dropped precipitously to less than $2bn – a third of the level of only six months ago. Investors were told recently their remaining funds would be returned in stages, with set withdrawal dates. The two funds had already limited investor withdrawals in the past few months amid heavy redemptions and a decline in the value of the funds.
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- Terms
The plural is “fundS of funds.”
One fund of funds.
Two funds of funds.
Tough times remain ahead for hedge funds.