Fund launches & closures

Macquarie shuts down event-driven fund

by

Macquarie has shut down its event-driven fund, the Macquarie Special Events Fund – adding to a growing list of funds that have shut up shop since last year.

The Australian-domiciled fund, which was launched in October 2003, was liquidated at the end of January and is understood to have managed around $50 to $100 million worth of assets a few months before its liquidation.

The shutdown followed a weak performance last year and lack of interest from investors. The fund delivered a -2.09% return in the first 11 months of last year. Its best performance was in 2009,