“Hedge fund returns up, redemptions down” says Reuters. Not, though, for everyone.
Proof that the redemptions nightmare is still not over for some funds: Thames River Capital, the multi-billion fund of funds is winding up a long/short emerging markets credit fund it operates, Hillside Apex, according to HFM Week.
The fund, with around $430m, hit the rocks last year, when trading in it was suspending after a spate of redemptions. At its peak in 2007 Hillside Apex had around $1bn in aum.
Alas, in spite of expectations of a recovery, and some generally quite positive results earlier this year, redemptions have continued, and, as HFM Week reports, following a slew of recent new ones, the managers have decided to wind up the fund.
Related links
Hedge fund comeback gathers steam – FT Alphaville
Annals of unintentionally revealing press releases, hedge fund edition – FT Alphaville