Hedge fund firm Density is planning to shut down after a period of poor performance.
Reuters reported that Sweden-based Density lost 14.9% in the first nine months of this year. Density co-manager Jonas Vikstrom admitted to the news outlet that “performance has been quite bad, and has not been what [the firm] hoped for.”
The article added that Density is among a slew of computer-driven hedge funds, including Man Group’s AHL, that have suffered losses as the actions of the central bank disrupted the firms’ long-running market trends.
Originally a unit of Brummer & Partners, Sweden’s largest hedge fund, Density launched out on its own in 2008. It managed about $54 million in assets at its peak.