Trafalgar Asset Managers, the European hedge fund group
headed by Lee Robinson and Theo Phanos, has told investors that
it plans to wind down Trafalgar Catalyst, the
firm’s flagship event-driven fund since its
inception in 2001.
The announcement was seen by some investors as slightly
surprising – given that the fund came through the
financial crisis very impressively, with a positive return in
2008 despite paying out huge redemptions, and was still running
assets of close to $400 million last month despite...