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
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...
ISSN: 2151-1845 / CDC10004H
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