Stockholm (HedgeNordic) – Swedish hedge fund manager Alsback Förvaltning will wind down its long/short equity hedge fund European Absolute Return, according to a statement from the fund management company.
“In November the board took the decision to wind down Alsback – European Absolute Return Fund. We anticipate this process to be completed during the first quarter of 2017 and we will not make any further investments in the fund. We recommend all investors to redeem their units as soon as possible”, Alsback writes in a newsletter.
The Irish domiciled Alsback European Absolute Return Fund has been running since 2003 and had its best years in 2005 and 2006 when the fund gained 23.38 and 21.37 percent respectively, according to HedgeNordic data. During the last three years, the fund has not been able to live up to historical standards and shows negative returns for each of the years between 2014-2016.
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