Hedge Funds

Exis Capital sheds staff amid continued losses


Adam Sender's short-term trading-oriented Exis Capital at the end of March laid off at least six traders and analysts, stirring renewed speculation that the firm's days might be numbered.

Whether the dismissals were tied to a change in strategy or simply an attempt to cut costs could not be learned. What is certain is that the New York firm has reason to be concerned about its bottom line: The offshore version of its flagship Exis Differential lost about 1.9% through during the first quarter - after falling more than 2% in 2004.

And the management fees the firm