Fund launches & closures

Reech shuts down Asian fund after struggling to raise assets

by

Reech Aim Group has closed its White Tiger Asia Fund alternative UCITS fund, the asset manager announced to the market last week.

The fund sits under the Irish-domiciled umbrella Alternative Alpha Fund.

A statement explains:  “UCITS fund structures in the absolute return market have not attracted sufficient interest from investors.

“Together with the increasing costs, [this] has led to the decision of the board of Alternative Alpha Fund plc to wind up the fund.”

Reech also runs Magnetic America Growth Fund, which is also being wound up.

Meanwhile, four UCITS-compliant funds were liquidated by the asset management division of Merchant