By Marcus Williams
A $3.3 billion emerging markets fund run by Nevsky Capital managers Martin Taylor and Nick Barnes is to be wound down over the next 12 months after the pair decided to step down.
Nevsky Capital said yesterday Taylor and Barnes had given 12 months notice they would stop running the Nevsky hedge fund from March 3, 2011, as the global remit of the fund was becoming increasingly difficult.
The two managers will continue to manage Nevsky Capital’s long-only mutual fund business with a team of emerging market specialists.
In a statement, Nevsky Capital said: “whilst Martin’s and Nick’s enthusiasm for the Fund’s strategy remains, neither individual feels able to commit to managing the Fund’s portfolio with the intensity that they would wish to continue to provide beyond March 2011.”
Nevsky Capital has decided against hiring external managers or appointing new managers from within the Nevsky team.
