Thames River moves to close Kinsey-Quick's hedge fund

Thames River is set to close Ken Kinsey-Quick's £54m Multi Hedge fund, returning the cash to shareholders next month.

Thames River said shareholders have sanctioned an EGM on September 11 to wind-down the company, following a year of underperformance in 2011 which has pushed the fund onto a discount of 12%. The Guernsey-listed fund of funds was launched in February 2004, giving Kinsey-Quick the ability to invest across a range of directional and non-directional hedge fund managers. The fund principally invests in equity long/short funds, as well as multi-strategy and credit hedge funds. "The board of the company outlined proposals for a managed wind-down, which if approved by shareholders, will le...