A CQS fund that invests across a rage of internal strategies  at the London-based credit hedge fund firm, is to close following significant outflows, according to a report by the Financial Times.

The $20 billion firm, which was founded by billionaire trader Sir Michael Hintze and offers a range of funds that trade instruments including structured credit, convertible bonds, asset-backed securities and equities, is reported to have informed investors of its decision to wind down the CQS Diversified Fund earlier this week having seen assets shrink by roughly half to $388 million.