Emerging markets hedge fund firm Avantium Investment Management is shutting down after more than two years in business.
Avantium marketing and investor relations associate Lucy Blair told Financial News that the closure of the London-based firm was prompted by investor redemptions as “appetite for dedicated emerging markets funds decreased.”
While the firm’s current assets under management is not known, Avantium launched in 2011 with about $200 million in assets. It grew to manage $800 million at its peak in May 2013, but suffered as investors decided to withdraw their money.
Avantium is the latest emerging hedge fund to shut down; Brevan Howard Capital Management is planning to close its emerging markets fund after losing 15% last year, while Adelante Asset Management closed its global emerging markets debt fund last year after 14 years.
Avantium was launched by former Deutsche Bank emerging markets trading head Kay Haigh.