Derwent Capital has closed down its Twitter-based hedge fund after just a month of trading, and is now set to offer its sentiment-based technology to day traders instead.
The Derwent Capital Markets Absolute Return fund, the only dedicated Twitter fund in the market, closed down last year. The fund was closed despite beating the market and the average hedge fund, with a 1.86% return from its sterling shares, the FT reports. Derwent is preparing to launch the new offering aimed at day traders in the summer. Users will be able to tap its sentiment technology as an overlay on IG Group's spread-betting trading platform. Derwent is aiming to attract between 3,000 and 5,000 customers to trade through its system, taking a cut of the trading fees from IG. C...
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