Launches & Closures

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


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