Canadian Fund Closing Down

Date: Tuesday, September 5, 2006
Author: HFN Daily Report

Savoy Capital Management is going out of business, according to a report.

MARHedge said the fund operator is liquidating its flagship Gladiator Absolute Return Canadian Equity Fund. The report said the fund has underperformed and faced significant investor outflow. The fund began winding down a week ago, the report claimed. A voicemail message left at the Savoy home office in Calgary was not returned.

Fifteen-year investment veteran Gene Vollendorf founded Savoy Capital in 2001. Savoy combined macro strategy with company-specific research. The asset size of Savoy could not be ascertained.