Thames River to close old Quantum fund

Thames River Capital is closing the UK Absolute Income fund it acquired from Quantum last year due to its small size and poor relative performance.

The £9.2m portfolio, which is run by manager Joel Amsellem, uses a call writing strategy over its UK equity holdings. "This decision has been made because the fund's performance and growth in assets under management have not met expectations," Thames River says. UK Absolute Income returned 2.83% since launching in November 2005, against a 17.7% rise for its sterling overnight interest rate index. Michael Warren, Thames River's investment director, says the group is in the process of discussing options with Amsellen. The group expects to liquidate the portfolio by Friday and retu...