Hedge Fund Stone Milliner Asset Management Will Shutter

November 27, 2019 | Hedge Funds, Investments, Latest News, News
https://dailyalts.com/wp-content/uploads/2019/11/52e1d5464a56af14ea898579ce203e7c1d22dfe054557948722d7ddd_640.jpg

Hedge fund closures have outpaced fund launches since 2015

Macro hedge fund Stone Milliner Asset Management is closing its doors. The company announced it would return capital to investors in the face of weak performance and ongoing outflows. Bloomberg reported that the firm had about $3 billion under management in October. That figure is down roughly 50% from its peak.

The London-based hedge fund is among several large firms that are walking away from the hedge fund game. eVestment has said that investors have pulled nearly $88 billion from funds so far this year. That figure is roughly double the outflows for all of 2018.

Stone Milliner and Its Exit

Former Moore Capital traders Kornelius Klobucar, Chris Nicoll, and Jens-Peter Stein founded Stone Milliner in 2012. The company saw early success, with annual returns of 11.5% through 2015. However, it lost money in 2017 and has should lackluster returns in the last two years.

It returned 1.2% in 2018, and has returned roughly 1% so far this year, according to Bloomberg.

Louis Bacon’s Moore Capital had invested about $800 million at its launch and assisted with office support. That said, Moore Capital also announced plans to return capital to investors as Louis Bacon plans to exit the industry.

Related: Louis Bacon to Shutter Hedge Fund Moore Capital

 

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/12/AMD_headquarters_santa_clara.624da707519a6.jpg
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…

https://dailyalts.com/wp-content/uploads/2023/12/RHCEU-Inline.jpg
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…

https://dailyalts.com/wp-content/uploads/2023/12/Samsung_UK_Samsung_Pay_Lifestyle_0552-revised-Pictogram-23.11.30-1024x744-1.png
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…

https://dailyalts.com/wp-content/uploads/2023/12/Revaia-founders.jpg
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…