February 26, 2016 / 4:31 PM / 4 years ago

Collins Capital shutters hedge fund for retail investors-filing

BOSTON, Feb 26 (Reuters) - The Collins Alternative Solutions Fund, a mutual fund that offered hedge fund strategies to retail investors, was shut down after suffering double-digit losses in 2015 and falling more this year.

“The board concluded that it would be in the best interests of the fund and its shareholders that the fund be closed and liquidated,” Collins Capital said in a regulatory filing made with the Securities and Exchange Commission. The fund was shut down on Feb. 19.

The fund lost 12.5 percent last year and fell 4.2 percent in January, according to documents sent to investors and seen by Reuters. Collins Capital did not immediately return a call for comment. (Reporting by Svea Herbst-Bayliss; Editing by Scott Malone)

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