The Shocking Admission of This Shuttered Hedge Fund Manager

It’s no longer surprising when hedge funds close their doors. According to a website that tracks hedge fund “implosions,” since late 2006, aptly-named The Hedge Fund Implode-O-Meter, at least 117 major funds at 71 fund families have shuttered.

The sponsoring fund families are some of the best-known in the business. They include Citigroup, Carlyle, Russell Investments and ING.

Nevertheless, the closing of Emrys Partners, a hedge fund launched just more than two years ago, has real significance for investors. Here’s some relevant background.

Read the rest of the article at US News.