Liontrust closing hedge fund following poor performance

The Jeremy Lang-managed Liontrust Absolute Growth hedge fund is closing following poor performance. ...

The Jeremy Lang-managed Liontrust Absolute Growth hedge fund is closing following poor performance. The £7m fund, which opened in 2004 with a share price of 100p, has now seen this drop to around 80p. Lang intended the fund to go short on companies that were anticipated to have earnings disappointments. The group said the fund was caught out by a combination of bad luck and bad judgement after a number of companies predicted to post disappointing earnings subsequently went on to exceed expectations. Lang also manages a range of long-only funds for the boutique investment house, which a...