(Reuters) London-based fund firm City Financial and the chief investment officer of its Decca Fund, Shahraab Ahmad, have decided to wind down the credit-focused strategy after it “did not deliver the performance that you expect of us”, according to a letter to investors reviewed by Reuters.City Financial was hit hard earlier in 2018 when Decca, one of its main funds, lost 21 percent in February alone after a wrong-way bet on volatile markets, according to a Bloomberg report.
City Financial’s Hedge Fund Decca to Shut Down
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