Wessex shuts down funds after losses and redemptions

Fri Nov 25, 2011

Wessex Asset Management, the multi-fund long/short equity firm, is closing down its stable of funds after a torrid time in the markets this year for all three of its investment strategies.

Wessex Natural Resources Fund, Wessex Gold and Wessex Asia Pacific have all posted significant double-digit losses this year. Redemptions have also been a factor, and the firm has concluded that the funds "are now too small to have any realistic prospect of growing back to critical mass", according to a note to investors by marketing director Douglas Sloane.

Wessex Natural Resources is down 33.8% to the end...

ISSN: 2151-1845 / CDC10004H

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