Fund launches & closures

Eddington shuts shop

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Eddington Capital Management, a London-based boutique backed by Caledonia Investments, has decided to shut shop after seven years, despite solid returns from Eddington Triple Alpha Fund and Eddington Macro Opportunities Fund, the InvestHedge New Fund of the Year Award winner in 2008.

"This is a dreadful environment for smaller funds to be raising assets, and great performance is insufficient to guarantee success. Despite preserving capital in 2008 in Eddington Triple Alpha Fund and despite being up almost 25% in Eddington Macro Opportunities Fund in 2008, we just couldn't reach critical mass. More recently, flat performance has seen assets