Highbridge Capital Management, a hedge fund owned by JPMorgan, may limit withdrawals from its Asian Opportunities Fund. The fund is down 32% on the year and Highbridge Capital Management intends to give investors half of their money returned by the end of January. The rest of investors' money will be returned in 12 to 18 months, reports Bloomberg. This comes after earlier news that Highbridge might limit withrdrawals from its Asia Opportunities Fund completely.
Though Highbridge's Asia-focused fund has performed poorly this year, it has returned more than 20% since inception, and double digit gains in 2006 and 2007.
JP Morgan purchased an interest in Highbridge Capital Management in 2004 and increased its interest to 78% in January.
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