13/04/2011 Author: Elana Margulies

Alpen liquidates Euro shareclass of flagship

Alpen Investment Management, a diversified fund of hedge funds (FoHF) manager, has liquidated the Euro shareclass of its flagship offering.

According to data seen by HFMWeek, the Alpen Fund Class E Euro began liquidating at the end of December 2010, after shareholder services asked all investors to redeem.

The fund has only had two negative performance years since its launch in March 2000; it posted -21.63% in 2008 and -1.38% for 2010.

Alpen’s decision to close down its Euro shareclass comes following a difficult 2010 for many FoHF businesses. However, according to a number of sources, the sector is finding its feet again as it sees an increase in smaller investors looking to make maiden hedge fund allocations, along with existing allocators seeking to diversify.

The Alpen Fund Class E Euro primarily allocated to funds with a European focus, and invested across a variety of strategies including long/short equity, convertible arbitrage, merger arbitrage, fixed-income arbitrage, event-driven, special situations and statistical arbitrage.