Fixed income fund had lost money for three consecutive years; firm drops out of Billion Dollar Club.
QFS Asset Management is down to a single hedge fund, having liquidated its other two strategies following poor performance.
The Greenwich, Conn., firm axed its global macro and fixed income funds at the end of December following losses of 11.32% and 9.31%, respectively, in 2012. By comparison, the Absolute Return Macro Index was up 3.38% for the year and the Absolute Return Fixed Income Index gained 8.38%.
That had been the third consecutive year of negative performance for the fixed income fund, which fell 6.32% in 2010 and 4.52% in 2011. It had