Nevsky Capital, the London-based $1.5 billion equities fund run by Chief Investment Officer Martin Taylor and co-manager Nick Barnes, announced this week that it is closing its doors for good and returning cash to investors this year after two years of lackluster returns. The closure was first reported by Nishant Kumar of Bloomberg News, with much additional analysis reported by ZeroHedge.
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Nevsky Capital lost 1.4% in 2014 and was up 0.4% for 2015, compared to the fund's average return of 18.4% per annum since its launch in September 2000. However, according to Nevsky Capital's final letter, these poor returns weren't the only factor behind the decision to shut the doors for good.
Martin Taylor writes in Nevsky...
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