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Alternative Market Briefing

John W. Henry to cease managing client money at the end of this year

Monday, November 12, 2012

Bailey McCann, Opalesque New York: John W. Henry & Co., a US-based trading group run by the owner of the Boston Red Sox and Liverpool soccer team, announced in a letter today that it will stop managing client money at the end of this year. The firm has seen somewhat diminished returns over the past few years according to a Wall Street Journal account. Firm assets were also said to be in decline.

John W. Henry, himself, maintains a variety of investments including the Fenway Sports Group which owns the Boston Red Sox and is also owner of the Liverpool soccer team in the UK. Both teams have seen muted returns. The Red Sox have been in the market for new team management under Henry's ownership. Liverpool, until late October had been mired in a years long discussion over where the team would play and how much a new facility would cost.

According to a letter sent to clients on behalf of the firm and obtained by Opalesque, the company will continue business as usual through December 31,2012. After that point, the firm will no longer manage client funds but will still engage in proprietary trading and investment research. Calls into the firm asking for ......................

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