Brummer & Partners, the pioneering and diverse Stockholm-based hedge fund giant, has called time on one of its funds, the Nordic long/short equity vehicle Avenir, citing disappointing performance.
Managed from Helsinki in Finland by a team headed by Peter Ramsay, Avenir was a substantial fund, still managing some $435 million as of 30 September last year. It was also a long-running vehicle, with a track record dating back to December 2000.
In a statement to the EuroHedge database, Brummer explained that Avenirs performance over a long period of time has not met expectations.
After losing only 9% during