Chicago-based Driehaus Capital Management is liquidating its Driehaus International Credit Opportunities Fund (DRCIX) after a year of less-than-stellar performance.
According to a regulatory
Adam Weiner and Sabya Roy were the portfolio managers of the fund, which launched on March 1, 2012.
Since the fund’s inception through December 31, 2012, it returned -2.29%, which fell below the fund’s benchmark, the Citigroup 3-Month T-Bill Index (0.07%) for the same period. The fund also underperformed the BofA Merrill Lynch Global High Yield Index, which returned 11.21%, and the J.P. Morgan Emerging Markets Bond Index Global Diversified, which returned 12.90% for the same period, according to the PMs’ annual report to shareholders.