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...