Weiss Multi-Strategy Advisers, a New York-based hedge fund firm with around $3bn in assets under management, has axed four of its trading strategies as part of a review of its investment teams, according to a report by Bloomberg.
The report cites unnamed sources with knowledge of the matter as confirming that the strategies include commodities as well as an information science team that focused on bets on companies involved in the tech upgrade of industrial and consumer markets.
Weiss has also terminated a trading options strategy and an event-driven group that focused on wagers on large-cap stocks in North America, according to Bloomberg’s sources.
The hedge fund, which has been reviewing its business based on scalability and future profit potential, has also added tow new strategies focused on bets on price dislocation and the consumer sector.
The firm’s’ main hedge fund is up 2.9% for the first even months of the year will its higher volatility version is has gained more than 5%.
