Hendry shuts Eclectica AM saying 'it wasn't supposed to be like this'

Firm founded 12 years ago

clock • 3 min read

Well known hedge fund manager Hugh Hendry is to close Eclectica Asset Management, which he founded 12 years ago after leaving Odey AM, following a tough period for his macro strategies.

In a letter to investors, Hendry said the substantial risk book of his flagship Eclectica fund - which has slumped 9.4% this year through August - "became strongly correlated over the short term to the maelstrom of President Trump and the daily news bombs emanating from the Korean Peninsula." This, coupled with the increasing regulatory burden, had been making it impossible to manage small pools of hedge fund capital, he said. Hendry highlighted the potentially "strange environment" where in the absence of any recognisable asset bubble, risk assets should continue to trend positively....

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Funds

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Schroders to adopt Sustainability Focus label for Global Sustainable Value Equity fund

Update to prospectus early next year

Cristian Angeloni
clock 13 November 2024 • 1 min read
FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

FundCalibre adds Regnan Sustainable Water and Waste to 'Elite Rating' suite

Two other funds added to watchlist

Linus Uhlig
clock 13 November 2024 • 2 min read
Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Baillie Gifford Japanese fund added to Hargreaves Lansdown Wealth Shortlist

Despite recent underperformance

Linus Uhlig
clock 13 November 2024 • 2 min read
Trustpilot