Money and Metals

MarketWatch reports a hedge fund suddenly closed its doors. "Marin Capital Partners, a hedge fund that once oversaw about $2 billion in assets, is shutting down because the firm sees few opportunities in the convertible arbitrage and credit arbitrage strategies it follows."

"'Due to a lack of suitable investment opportunities in the current market environment, and in our view an unfavorable risk/ reward situation in the relative value strategies we trade, Marin has moved the fund's portfolio largely into cash,' Marin said in its letter."

"'Without conviction that there will be near term opportunities to generate sufficient returns on your behalf using appropriately hedged strategies, it is only prudent to make the decision to close the fund,' the firm said."