Assets halved at Archeus


Assets managed by Archeus Capital Management have declined by 47.2% this year, to $950 million, as the firm struggles with a combination of unexciting performance and delays in the issuance of its audited financial statements. The steep drawdown comes on top of a 21.7% decline in assets in 2005. (See "Billion Dollar Club," p.34.) In its heyday, New York-based Archeus ran a bit more than $3 billion within its multistrategy, concentrated risk and structured product funds.

Archeus has been posting positive, if unremarkable, performance numbers. Over the past 12 months, one of its funds has netted a double-digit gain