GLG to limit size of key fund

GLG Partners, a hedge fund firm with $23bn (£14bn) of assets under management, is closing its market neutral fund to new investors when it grows beyond $1bn. A spokesperson confirmed the move to City A.M. last night, adding that the move doesn’t mark a change in fund management strategy for the company, but said that it was a move specifically related to performance, with this size optimal in enabling it to exit or enter new positions relatively quickly.