Ward Ferry close WF Asia Fund to new investors

The darlings of Asia''s hedge fund market, Scobie Ward and Peter Ferry, have closed their $200 million fund allowing only existing investors to up their stakes.

Ward Ferry Management has closed the doors of its $200 million longshort hedge fund to new investors but will take up to $100 million more from existing stakeholders before capping the fund at around $300 million.

The move is designed to keep the volatility of the WF Asia Fund at manageable levels, says Peter Ferry, director and one half of the two-man team that also includes stock-picking guru Scobie Ward. When you can't short individual stocks in many Asian markets it's important to keep the fund at a certain size otherwise our volatility starts to increase.

Ferry says the door will remain open to existing investors for a period of time. Basically we are...

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