Ward Ferry Management has closed the doors of its $200 million longshort hedge fund to new investors but will take up to $100 million more from existing stakeholders before capping the fund at around $300 million.
The move is designed to keep the volatility of the WF Asia Fund at manageable levels, says Peter Ferry, director and one half of the two-man team that also includes stock-picking guru Scobie Ward. When you can't short individual stocks in many Asian markets it's important to keep the fund at a certain size otherwise our volatility starts to increase.
Ferry says the door will remain open to existing investors for a period of time. Basically we are...
