The closing comes as smaller hedge funds face increasingly tough conditions, from turbulent markets and geopolitical strife to the popularity of giant rivals whose myriad investment pods have attracted much of the available money.
One of Singapore’s longest-running hedge funds, New Silk Road Investment, is shutting down after weak returns and a pullback by US investors in Asia led to a sharp drop in assets.
The firm, started by two finance veterans about 16 years ago, saw assets under management plummet to US$615 million ($787.98 million) as of December, from almost US$2 billion as recently as 2021.
