Tell returns capital to investors after 15-year run as European shutdowns go past 100 for 2011

Thu Jan 26, 2012



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....

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