Smeaton closes down hedge fund and investment boutique

Neil Smeaton, who manages the newly launched Collins Stewart US Equity Focus fund, has closed the hedge fund he had established under his own company Ailsa Capital Management. The Ailsa long/short hedge fund was launched in October 2000 and raised £25m. The fund was liquidated last month and all money has been returned to investors. Smeaton's new employer, Collins Stewart, plans to launch a similar US-based hedge fund in six-12 months time, which Smeaton will manage. Originally, Smeaton was contracting his services to Collins Stewart but has since become fully employed. 'We are lo...