(Reuters) - BOSTON, July 30 - Hedge fund Sowood Capital told
investors on Monday that it would shut down after losing half
of its assets on soured bond market bets, becoming the
first-high profile fund forced out of business by recent market
turmoil.
The Boston-based fund, which managed money for Harvard
University and other prominent clients, saw assets dwindle to
roughly $1.5 billion from $3.0 billion in less than four weeks.
Read more at Reuters.com Mergers News
investors on Monday that it would shut down after losing half
of its assets on soured bond market bets, becoming the
first-high profile fund forced out of business by recent market
turmoil.
The Boston-based fund, which managed money for Harvard
University and other prominent clients, saw assets dwindle to
roughly $1.5 billion from $3.0 billion in less than four weeks.
Read more at Reuters.com Mergers News
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