Fund launches & closures

Aethra shuts down absolute return UCITS fund

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Aethra Asset Management is returning money to investors after it failed to attract ‘sufficient’ inflows into its UCITS-compliant funds.

Its absolute return UCITS fund, Aethra Global Strategies Fund, had $8.9 million assets under manager management at December 2010. It will now be dissolved along with its other funds: Aethra DAA and Aethra Europe Star Funds.

A statement issued by the asset manager says: “Despite considerable interest from the general marketplace and appreciation of the platform, the chicken-and-egg situation concerning the actual size of the funds and the size required by many clients due to risk management or internal