HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 11740
Location: Los Angeles, California
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 Posted: Thu Jun 16, 2005 4:41 pm Post subject: Marin Capital hedge fund to shut down |
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Don't be surprised if we see any additional closing down of funds in the next few months.
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Marin Capital hedge fund to shut down
Convertible arbitrage specialist sees few opportunities
By Alistair Barr, MarketWatch
Last Update: 6:00 PM ET June 15, 2005
SAN FRANCISCO (MarketWatch) -- Marin Capital Partners, a hedge fund that once oversaw about $2 billion in assets, is shutting down because the firm sees few opportunities in the convertible arbitrage and credit arbitrage strategies it follows.
Marin, which has moved most of its investments into cash, will stop trading at the end of June and return money to investors in early July, according to a letter the firm sent to investors this week.
"Due to a lack of suitable investment opportunities in the current market environment, and in our view an unfavorable risk/ reward situation in the relative value strategies we trade, Marin has moved the fund's portfolio largely into cash," Marin said in its letter, a copy of which was obtained by MarketWatch.
Original link: http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yhoo&siteid=yhoo&dist=yhoo&guid=%7B45D17FD0%2D5843%2D4B26%2D831E%2D1EF2BA049A24%7D |
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