Nevsky Capital hedge fund duo to step down

Nevsky Capital's Martin Taylor and Nick Barnes are to resign their duties on the firm's flagship emerging markets hedge fund in 12 months' time.

Taylor, Nevsky's chief investment officer and founder, and Barnes, a partner, will still run Nevsky Capital's Global Emerging Markets long-only fund, and two Ucits-compliant funds focused on Eastern European and Asian equities. In aggregate these funds hold about $4bn. Neither manager is joining a rival group. The directors of Nevsky's hedge fund say: "The fund has received 12 months' notice that both [managers] will cease to provide investment management and advisory services...