Asian hedge fund closes

Wharton Asset management closes its flagship Asian equity-linked fund.

In a possible sign of the coming shakeout in the hedge fund industry, the Wharton Asian Equity-Linked Fund closed late last week. In 2002 the fund experienced poor performance of -15%. Vanessa Gibson, managing director of Wharton Asset Management says that the fund closed with over $50 million.

That is substantially down from its peak in 2001 when it stood at $235 million.

The fund was focused on convertible and risk arbitrage, and Gibson rose to...

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