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Hong Kong-based Richland to shut hedge funds in surprise move

Reuters – Hong Kong-based Richland Capital Management Ltd is shutting down its hedge fund operation, Chief Investment Officer Alex Au told Reuters on Tuesday, a major blow to an industry struggling to raise assets and turn a profit for investors in Asia.

The decision to close down is unexpected as Richland has outperformed peers in the $133 billion Asian hedge fund industry since it was launched in 2006.

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