QIM shuts largest strategies to new capital, liquidates smaller offerings
By Suzy Kenly Waite
Wed Feb 10, 2010
Jaffray Woodriff’s $5 billion commodity shop to focus on organic asset growth and short-term trading.
Quantitative Investment Management, Jaffray Woodriff's $5
billion commodity hedge fund firm, is closing its two largest
funds to new investments, effective March 1. The firm will also
liquidate four of its smaller funds, citing poor performance
and a lack of investor interest.
QIM will hard-close its $4.5 billion Quantitative Global
Program and its $400 million Quantitative Tactical Program,
wrote chief executive officer Jaffray Woodriff in a January 28
letter to investors. QIM wrote that while neither fund had hit
capacity-the Global Program's could handle as much as $10
billion and the Tactical Program could manage as much as to $1
billion-the firm decided it was the "prudent course of action
to preemptively close both programs and only grow assets
organically after March 1," a decision QIM will re-evaluate at
yearend. Only investors...
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