Pine River fund closes to new investors

Up 1.4% this year in what it tells clients is a "challenging" environment, Pine River Capital Management closes its flagship $4.5B Pine River Fund to new investors, citing low volatility and central bank dominance of markets.

The fund was ahead 10% in 2013.

The move follows that of DE Shaw which shut off its flagship fund last year, and outfits like Baupost and Appaloosa which are returning cash to investors.

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