STAMFORD, Conn. — Stamford-based hedge fund Meehan Combs will shut down at month's end after its European investments went bad, reported the Wall Street Journal.
The fund, launched in March 2013, has seen its value fall by a third after a peak value of $300 million last year.
After clients asked to redeem about half the fund's capital, management led by president Eli Combs decided to shut down at the end of the month, according to the Wall Street Journal.
Combs said the slow economic recovery in Europe affected people's investments.Click here to read the entire article at the Wall Street Journal.
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