Hedge Funds

After long fight, Webb liquidates Verus Investment


The troubled Verus Investment Fund is liquidating after a heavy loss in November brought the fund's year-to-date loss through November to nearly 19% and its loss since inception to about 47%.

Large monthly gains of 10.91% in July and 4.87% in August gave the portfolio a temporary boost, but November's loss hit the fund hard. Portfolio manager David Webb had a solid track record at Cleveland-based Shaker Investments, where he managed $1 billion in long/short equity hedge funds.

Webb had such a hot hand that when he left to start his own fund at the end of 2002, Shaker