{"id":26032,"date":"2011-11-16T11:48:35","date_gmt":"2011-11-16T16:48:35","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=26032"},"modified":"2011-11-16T11:50:00","modified_gmt":"2011-11-16T16:50:00","slug":"uk-based-wessex-closing-asia-hedge-fund-on-asset-slump","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2011\/uk-based-wessex-closing-asia-hedge-fund-on-asset-slump.html","title":{"rendered":"UK-based Wessex closing Asia hedge fund on asset slump"},"content":{"rendered":"<p>Reuters &#8211; UK-based Wessex Asset Management is closing three hedge funds, including one that invests in Asia-Pacific, the money manager said in a letter to investors, following a drop in assets under management and double-digit losses in 2011.<\/p>\n<p>The closure lengthens the list of hedge funds shutting down this year as the market turmoil keeps investors on the sidelines, making it tough for managers to raise assets.<\/p>\n<p>Assets of the long\/short equity hedge fund Wessex Asia-Pacific Fund, which once managed more than $270 million, had dropped to $11 million. The fund&#8217;s net asset value had slumped about 27 percent in 2011 to October, the letter showed.<\/p>\n<p>Its gold hedge fund, which had started trading in 2007 with more than $50 million of committed capital, was down 37 percent this year and the asset had dropped to $3 million.<\/p>\n<p><a href=\"http:\/\/www.reuters.com\/article\/2011\/11\/16\/uk-wessex-hedgefund-idUSLNE7AF00V20111116\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; UK-based Wessex Asset Management is closing three hedge funds, including one that invests in Asia-Pacific, the money manager said in a letter to investors, following a drop in assets under management and double-digit losses in 2011. The closure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26032","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=26032"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26032\/revisions"}],"predecessor-version":[{"id":26034,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/26032\/revisions\/26034"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=26032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=26032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=26032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}