Vicis Capital reports YTD losses of 12%, Suspends Redemptions
|September 25th, 2009||
|Volatility-arbitrage focused hedge fund manager Vicis Capital has restricted investors from withdrawing almost $550 million after the fund has reportedly fallen 12% year to date. According to Bloomberg, investors had already withdrawn $2.7 billion from the Vicis Capital Fund since October. Highlighting the poor performance of volatility funds year to date, overall funds following the strategy were up only 0.83% through August, compared to a 14% return by the overall hedge funds industry.|
As a solution, Vicis Capital plans to separate hard to sell assets from more liquid assets. This would allow the fund to pursue and profit from longer-term investments. If investors approve this measure, Vicis Capital has signaled it will resume client redemptions.
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