Cayman fund 'hard' closes at $100m

Managed by Leonard Charlton the $100m Melchior European Fund is a long short equity fund. Since launch in 2006, the fund has delivered a return of +54.19%. According to DSP the return has been achieved with an annualised volatility of 6.48%. Commenting on the closure, Magnus Spence, Managing Partner at DSP, said: "Our main priority is to provide our clients with the best possible risk adjusted returns. We believe that by closing the Melchior European Fund, and thereby limiting the assets under management, Leonard and his team will retain the ability to take positions in their best stock...