Paris-based Lyxor Asset Management has shuttered two Asia-focused funds following weak performance from both last year.
Both funds, the Lyxor Equisys China Fund and the Lyxor Equisys Japan Fund, were closed in April and their remaining cash has been returned to investors.
The China fund had HK$35 million ($4.5 million) in assets under management between September and December 2011, while the Japan fund had JPY1 billion ($12.5 million) in October. Both Luxembourg-domiciled funds were managed by Franck Vivier.
The long/short China-focused fund recorded a 33.15% loss last year but delivered a 13.24% return in the first quarter of this year. Launched