BNP Paribas Asset Management has also reported the closure of the BNP Paribas Liquid Hedge fund, but in this case the fund never managed to gather more than €300,000 which rendered it inoperative.

Last month Banco Popular closed the fund of hedge fund Eurovalor MultigestiĆ³n one year after launching it as the fund did not manage to get the minimum number of assets required by the Spanish regulator.

As Citywire has previously reported in the past the incipient Spanish hedge fund industry has been one of the biggest casualties of the credit crunch with a number of local players leaving the arena. Source

For more information on Spain see Spain Hedge Fund Guide