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YouGov Bins Hedge Fund Plans
In the UK, online market research agency YouGov has abandoned plans to form a hedge fund after its partners failed to raise the necessary funds.
The idea, which would have exploited investment opportunities identified through YouGov polls, was first announced in March. However, Numis Securities and Four Capital have been unable to generate enough money to go ahead with the scheme and the partnership has been disbanded.
YouGov CEO Nadhim Zahawi said the time wasn't right: 'Prevailing market conditions were not conducive to the launch of this fund.'
Yesterday the agency reported that turnover has almost tripled to £40.4m for the year ended 31 July, although profit is down 29% to £4.0m.
Web site: www.yougov.com .
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