Drake to shutter flagship $2.5 billion macro fund

Fri May 2, 2008



Drake Management has decided to liquidate its $2.5 billion Drake Global Opportunities Fund following big losses.

The macro fund, which invests primarily in fixed-income securities, has reported back-to-back declines for the past six months. Double-digit losses in both October and November 2007 put the fund down about 24%...

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