Modulus Europe (Powe Capital) - Liquidating

The Independent reports that Powe Capital Management's flagship hedge fund, Modulus Europe, has been forced to liquidate. Gates were used in July, August and September to defer redemptions on the fund; however, Rory Power, the fund founder, determined that liquidation provided the most "fair" outcome for investors. The fund invested in "small and medium-size companies" and lost some 21% of its value on the year.