Bloomberg – CQS U.K. LLP, the London-based firm founded by Michael Hintze, plans to restrict new investments into a hedge fund that trades mortgage-backed securities once its assets under management reach $2 billion, according to a letter sent to clients.
The CQS ABS Fund, which has gained 35 percent a year on average since 2006, currently oversees $1.6 billion, according to the letter obtained by Bloomberg News. CQS said it’s instituting the so-called soft close because it wants to manage assets “carefully and thoughtfully,” the letter said.
