Launches & Closures

Brummer, Gartmore add to shutdown list as attrition rate falls


The liquidation of a second fund this year by Stockholm-based multi-strategy group Brummer & Partners and the closure of Gartmore’s quant equity strategy by new owner Henderson are among the list of European hedge fund shutdowns in recent weeks.

Brummer has pulled the plug on its Arbor European equity market-neutral fund – which becomes the second casualty after the group shut down its Karakoram long/short Asian equity fund earlier this year. The firm has also launched new event-driven strategies in Asia and Europe this year and retains another market-neutral equity fund called Archipel.

Launched in October 2008, Arbor