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August 18, 2006
Hedge Fund Closes Shop
The IFL Continuum Fund is just three months old, and it’s already being put to sleep. Its owner Robert Merton, a Nobel Prize winner for economics, shut down operations since returns were not forthcoming. The fund which focused on credit securities, was the latest launched by Integrated Finance Ltd. It had collected $30 million since its inception in March earlier this year. Bloomberg reports:
Integrated Finance primarily advises clients on pension issues and corporate strategies, such as mergers and acquisitions. The company has an $80 million emerging-market hedge fund run by Jose Luis Daza that started in October 2005.
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