In an Altinvestment Global News Roundup dated 10 December we referred to a news article on GMN Capital.

In an Altinvestment Global News Roundup dated 10 December we referred to a news article on GMN Capital. The firm has asked us to retract the previous article and to note that the fund did not lose over 50 per cent as was originally stated.

In an AP article dated Thursday 29 November, CEO and managing partner James Claus confirmed the San Francisco-based hedge fund firm would shut down at the end of the year. According to the AP, the firm has sent a letter to investors saying it plans to return their money, and assets in the firm's single fund, GMN Master Fund, have dropped to around USD 500 million from a high of USD 1.2 billion. GMN Capital was a spin-off of London's GSA Capital, launching earlier this year with about USD 1 billion in assets.