Bloomberg – Brummer & Partners, the largest Scandinavian hedge fund, closed its Asia-focused equity fund and the firm managing it after its performance damped returns, according to the Stockholm-based company’s annual report.
The Karakoram fund, which bet on rising and falling stock prices in Asia outside Japan, lost 15.4 percent last year, the worst performer in a global portfolio of the firm’s hedge funds, the annual report published on Feb. 15 shows. The fund, which started trading in July 2009, had assets of $234 million as of Dec. 31, according to the report seen by Bloomberg News.
