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Doric shuts flagship hedge fund to focus on small cap strategy

Reuters – Doric Capital Corp, one of Hong Kong’s oldest hedge fund firms founded by former Man Group Plc executive Michael Nock, has shut its decade-old Asia ex-Japan┬álong/short equity fund and plans to focus on managing its small-cap strategy.

Launched in October 2001, the flagship Doric Focus Fund closed in January following a 28 percent loss in 2011, according to a letter to investors seen by Reuters this week. Assets were down to about $25 million from a peak of just over $350 million in 2006.

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