Hedge fund Amoeba set to close at year's end

Amoeba Capital Asia Fund, run by Ashutosh and Manish Sinha, is closing and will return capital to investors.

Amoeba Capital, winner of AsianInvestor’s 2007 ‘Best hedge fund launch', is shutting at the end of this year. It has told investors in the Amoeba Capital Asia Fund that it will return their money.

Amoeba Capital Partners was launched in Singapore in March 2006 by Ashutosh Sinha and his brother Manish Sinha.

Ashutosh Sinha had previously been managing director, head of Asian investments and co-portfolio manager for global emerging markets at Morgan Stanley. He was also the Asia ex-Japan equities CIO since 2000. Manish Sinha came to Amoeba having worked in hedge funds in New York.

Ashutosh Sinha poo-poohed the cornucopia of spurious rumours that have been floating on the street about the possible reasons for the closure, stating that he simply wanted to take a sabbatical. He has in place a team of experienced staff and he is striving to help them get jobs in other local firms.

Amoeba’s news follows hot on the heels of the closure of our 2008 ‘Best New Launch’ winner DragonBack Capital (see separate website story today).

In 2009 that same award was won by DoReMi Fund and in 2010 by BRIM Asian Credit Fund. Both of those are still happily with us.

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