August 23, 2006

Nobel Prize Winner Closes Hedge Fund

Nobel-prize winning economist Robert Merton has closed his latest hedge fund, IFL Continuum Fund just after three months. Merton failed to raise enough money to keep the fund afloat. The fund could collect $30 million since the beginning of March to invest in credit securities.

IFL Continuum Fund was to be a unit of Merton's Integrated Finance Ltd, which advises clients on pension issues and corporate strategies. It also runs an $80 million emerging-market hedge fund that started in October 2005. Merton is one of the three founders of the Long Term Capital Management in 1993, which created a global economic crisis in 1998 after collapsing down.

Read my previous post titled "Mittal Hedge Fund Aims for $500 Million" to get information about Mittal Hedge Fund.

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August 23, 2006 in Strategy | Permalink




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