Lansdowne Partners, a UK-based alternative investment mangement firm, has halted accepting investments in its flagship fund, with several other big funds set to follow suit – reported Financial Times.
The newspaper quoted that the $8 billion equities fund, which is up approximately 18% since the beginning of this year, had opened its UK equities hedge fund only in the last quarter. It began accepting money from strategic clients for the first time in five years, after investors had pulled as much as $1.2 billion from it in redemptions.
The UK hedge fund major’s action comes at a time when the hedge fund industry is gearing up for a record year, and investors seek to reallocate their capital to some of the other promising brands. Industry experts anticipate that many funds will start closing their doors to investment before too long and even associate with more stable institutional clients.
