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Blame Humans for This Robot Hedge Fund Malfunction

Edward Evans
Blame Humans for This Robot Hedge Fund Malfunction

The Swiss asset manager warned on Friday that profit would suffer as it wrote off $59 million of goodwill on its $217 million acquisition of Cantab Capital Partners LLP, a trend-following hedge fund it acquired in October 2016. The hoped-for growth in assets under management and performance fees never materialized. At the time of the purchase, Cantab had about $4 billion of assets under management.