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Drake to liquidate two additional funds

June 06, 2008  



Drake Management of New York has decided to shutter two more hedge funds that suffered significant losses over the past year.

In an announcement filed Tuesday with the Irish Stock Exchange, Drake said it would close down Drake Absolute Return Fund, a multistrategy fixed-income portfolio, and Drake Low Volatility Fund, a multistrategy fixed-income fund focused on securities of shorter duration.

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