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5yrs ago
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(Bloomberg) Macquarie Group Ltd. is shutting Asia’s oldest quantitative equity hedge fund after a poor performance in recent years, said a person with knowledge of the matter. The Australian company told investors nearly three weeks ago that the 13-year-old Macquarie Asian Alpha Fund would close, said the person, who asked not to be identified because the information is private. The fund, which has Australian and U.S. dollar versions, posted losses for each of the past three years, newsletters show. Assets plummeted to $133 million in September after peaking at about $2 billion in 2015.
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