Tell Investments, one of the best-performing European hedge
funds over more than a decade, is shutting down after a
frustrating period over the last few years that has prompted
founder Patrick Schegg to return capital to investors and take
a break from the industry.
The firm handed back just over €500 million of money in
its two flagship Tell and William global equity/macro funds to
investors on 20 January after liquidating the portfolios and
going to cash over the past few weeks.
The firm's third fund, Walter, which will be at SFr60
million on 1 February and has generated a net annualised return
of 10% since it was set up in 2006 (despite losing 13% last
year), will now be run by a new Walter Capital Partners entity
that has been set up by Tell partner Olivier Laimé and
analyst Aymeric Poulain....