Launches & Closures

GAM shutters Greater China, Japan hedges

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More Asian hedge funds are joining the list of managers that have shuttered operations this year. Among the latest are the GAM Greater China Equity Hedge and GAM Japan Equity Hedge.

Both funds had suffered significant redemptions in recent months after posting a relatively poor performance last year. A spokesperson for GAM said the level of assets under management “were not sufficient to support their continued operation”.

The GAM Japan Equity fund at its peak managed at least $600 million, but by the beginning of 2012 its assets had dwindled to $12 million. Annualised return for the