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Art Hedge Fund

Art Hedge Fund

First Art Hedge Fund Closes | Hedge Fund Notes

Artistic Investment Advisers will liquidate its more than $6 million Art Trading Fund this month.  Artistic Investment Advisers attracted a lot of attention over the last two and a half years after taking on a renowned art collector as its adviser and projecting 30% annual returns but the fund is due to close without a hint of whether the fund was successful or not.  See my research in Art Investment Funds here.
Artistic Investment Advisers plans to liquidate the £10.2 million Art Trading Fund this month, the Financial Times reports. The two-and-a-half-year-old fund launched to great fanfare in the summer of 2007, boasting advertising kingpin and contemporary art collector Charles Saatchi as an adviser and targeting 30% annual returns. It is unclear whether its strategy of buying middle-market artworks while shorting securities that its managers believed had close correlation with the art market actually produced anything like those returns.
It’s certainly not alone among art hedge funds closing their doors. Fine Art Wealth Management said the number of art hedge funds has dropped by about 60%, from more than 50 to about 20.  Source

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