Fund launches & closures Fund of Hedge Funds

Coast liquidates Diversified fund of funds

by

The Coast Diversified fund of funds is being liquidated due to the global financial crisis and unprecedented and ongoing market dislocations.

Coast Asset Management offers the Diversified platform. This is made up of a number of funds of hedge funds, the oldest of which was founded in 1995. At its peak, there was approximately $4 billion across the entire Diversified platform and the firm plans to continue to offer its other existing fund of hedge fund products.

Officials said that many of the underlying funds in the product were experiencing redemptions, putting up gates or liquidating altogether. The