Current news for this fund:
Focus Capital - Small cap equities (Swiss-centric)
Count of distinct funds: 1
FT has the story on another fund apparently pulled down in the undertow of deleveraging:
It seems no asset class is safe. Which, of course, was exactly our point in founding this site. A credit collapse hurts most in paper assets; but leverage makes anyone who uses it much more vulnerable.
The article also states "The firm, founded in early 2005 by Tim O’Brien and Philippe Bubb, had generated strong returns until this year" and that it will now be shut down. The Telegraph article points out that Focus even won a "coveted" EuroHedge award after returning over 100% in 2006. Apparently, it was not so well hedged, leading us to wonder what EuroHedge is doing giving out awards to outfits like this. Or maybe the whole "hedging" aspect has been completely done away with, in favor of impressive short-term gains with a much greater "wow" factor.
Focus' investors, on the other hand, are likely not very "wowed" anymore. Assuming they did lose about 80%, in theory they'd need more than two years of those 100% returns to get back where they were just before the fund's collapse. And that is a tall order for anyone to fill.
If you have more gory details, don't be shy—send them over.
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Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.