Boyer Allan Investment Management has decided to call time on two of its hedge funds having suffered losses and a drop in assets four sources familiar with the matter told Reuters this week. The two funds in question are the pan-Asia Boyer Allan Pacific fund, down 18.7 per cent through November, and the Boyer Allan Greater China fund, down 7.8 per cent this year. The firm is, however, continuing to run its Boyer Allan Pacific Opportunities fund. It is believed that assets in the three hedge funds have dropped from USD638million at the start of the year to around USD375million at the end of November. Boyer Allan’s chief executive in Hong Kong, Jim Sweeney, declined to comment. Singapore-based RSR Capital also decided to close their Caerus Arbitrage Asia fund last week. So far this year some 123 Asian hedgies have shut up shop as hedge fund performance lags in response to challenging macro conditions, driven predominantly by ongoing debt concerns in the eurozone.