Pinpoint Asset Management, the hedge fund manager based in Hong Kong and Shanghai, has liquidated its Cayman-registered Rising Commodity Fund. The firm says the move will allow it to concentrate more on its China fund.
The four-and-half year old commodity fund had assets of around $51 million before it was liquidated at the beginning of the year. The fund suffered a 14.01 % loss last year following considerable volatility in the market.
It is understood that the amount raised from the liquidation has been mostly re-allocated to Pinpoint’s Multi-Strategy Fund, which grew to $130 million following the reallocation. The multi-strategy