Lansdowne halts investments in flagship fund-report

Date: Tuesday, July 28, 2009
Author: Rhys Jones, Reuters

Lansdowne Partners, one of Britain's largest hedge fund managers, has stopped accepting investments in its flagship fund with several other big funds set to follow suit, according to a report in the Financial Times.

The report said the 4.9 million pounds ($8.07 million) Lansdowne UK equities fund, which is up around 18 percent so far this year, was no longer accepting new money after more than $1.2 billion was withdrawn in record redemptions.

Lansdowne's action comes as the hedge fund industry is poised for a record year and investors look to reallocate capital to some of the most prominent brands. ($1=.6075 Pound)