China’s second largest asset manager has closed one of its hedge funds due to poor performance and declining assets.
Asian Investor reported that E Fund Management’s emerging markets hedge fund lost 2.8% in the 12 months since its August 2011 launch and has just under $6 million in assets. The article also said that capital has been returned to investors.
Separately, E Fund’s long-only emerging markets fund also recently shut down.
Based in Hong Kong, E Fund has about $30 billion in assets under management.