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Alternative Market Briefing

Collins Capital closes retail hedge fund

Monday, February 29, 2016

Komfie Manalo, Opalesque Asia:

Diversified multi-manager and multi-strategy hedge fund Collins Capital has announced it would shut down its Collins Alternative Solutions Fund, a mutual fund that offered hedge fund strategies to retail investors, after suffering a double-digit losses last year and declining further this year.

In a regulatory filing with the U.S. Securities and Exchange Commission, Collins said that the fund was shuttered on February 19, as reported by Reuters. The company said, "The board concluded that it would be in the best interests of the fund and its shareholders that the fund be closed and liquidated."

The hedge fund, based in Coral Gables, Florida, fell 12.5% in 2015 and lost 4.2% in January this year.

Industry analysts are predicting more liquidations from mutual funds that are offering hedge fund strategies.

Morningstar analyst Josh Charlson commented, "We are going to see more liquidations. If fund firms don't have a robust distribution network to attract assets and then the suffer a spate of poor performance, they will suffer."

In 2011, the Hedge Fund Journal (HFJ) ......................

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