Singapore-based CastleBay Capital Management will close its Asian hedge fund after failing to attract enough capital, Bloomberg reports. The CastleBay Asia Long/Short Equity Fund is managed by Justin Pollock and has $7 million in assets. Pollock will return money to investors after gaining less than 1% in the first three months of 2011. The fund returned about 10% from April 2010 through December 2010. Pollock was a former portfolio manager at Galleon Group.
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