| Name | Event | Year | Outcome | AUM year of event (if known) | AUM after event (if known) |
|---|---|---|---|---|---|
| Franklin Templeton* | Very large outflows across variety of products, loss of investor appetite for EM funds | 2016 | USD 12bn outflows since January 2016, mostly in global bond funds | USD 854.7bn (July 2015) | USD 739.9bn (July 2016) |
| Brevan Howard Master Fund* | Poor performance over three years. ECB action / market reaction in December 2015 | 2016 | ~3bn outflows in 2016 | Data unavailable | USD 17.4bn (March 2016) |
| Sequoia Fund | Poor performance Key personnel departure | 2016 | 7.5% loss in 2015, down 12% in 2016; >USD300mn withdrawals early 2016; Shareholders who withdraw >USD 250,000 fund should expect in-kind redemptions as per Sequoia policy | USD 6.7bn (December 2016) | USD 4.8bn (August 2016) |
| Tudor Investment Corp* | Poor performance over three years | 2016 | USD 2bn outflows; Announced 15% cut of 400 strong workforce after losses | USD 21.9bn (December 2014) | USD 11bn (July 2016) |
| Nevsky Capital | Poor performance | 2016 | Fund liquidation - USD 1.5bn fund in January 2016 | USD 1.5bn (January 2016) | Fund liquidation |
| Tiger Global Management* | Large tech stock investment loss in first quarter of year | 2016 | Losses estimated at USD 1bn in Q1 2016, but fund is continuing to operate | USD 35bn (Dec 2015) | USD 32.2bn (July 2016) |
| Pershing Square* | Significant investment losses | 2016 | AUM down approx. 40% in one year; Cut 10% of workforce | USD 20,204.7m (August 2015) | USD 11,897m (August 2016) |
| Visium Asset Management | Insider trading scandal, poor performance | 2016 | Visium Global Fund sold to Alliance Bernstein; Liquidating hedge funds | USD 8bn (March 2016) | Fund liquidation |
| BlackRock UK Property Fund | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemption charges increased from 2% to 5.75% | GBP 3.3bn (June 2016) | To be calculated at quarter end |
| Legal & General UK Property Fund | Redemptions in UK property funds triggered by EU referendum | 2016 | No suspension of redemptions, but discount imposed on cash withdrawals – fair value adjustment of 15%, reduced three weeks later to 10% | GBP 2.4bn (June 2016) | Data unavailable |
| Aberdeen UK property fund | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions temporarily suspended, followed by 17% fair value adjustment on cash withdrawals; Exit penalty back to 1.25% by August | GBP 3.2bn (June 2016) | Data unavailable |
| Aviva Investors Property Trust* | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions suspended | GBP 1.8bn (June 2016) | Data unavailable |
| Standard Life UK Real Estate Fund | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions suspended | GBP 2.67bn (June 2016) | Data unavailable |
| M&G UK Property Fund | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions suspended | GBP 4.4bn (June 2016) | Data unavailable |
| Columbia Threadneedle UK Property Trust* | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions suspended on UK Property Authorised Investment Fund (and on associated feeder fund, UK Property Authorised Trust); Fair value adjustment of 5.3% on cash withdrawals | GBP 1.3bn (June 2016) | Data unavailable |
| Henderson Global Investors UK Property Fund* | Redemptions in UK property funds triggered by EU referendum | 2016 | Redemptions suspended on UK Property PAIF (and feeder fund) | GBP 1.4bn (June 2016) | Data unavailable |
| Kames Property Income Fund* | Redemptions in UK property funds triggered by EU referendum | 2016 | Fair value adjustment of 10% on cash redemptions | GBP 409mn (June 2016) | Data unavailable |
| Comac Capital | 8% loss due to CHF move | 2015 | Returned capital to outside investors due to CHF loss; Will continue to manage internal capital ~USD 150mn | USD 1.2bn (January 2015) | Fund liquidation |
| Tiger Consumer Management | Retirement of fund manager | 2015 | Fund liquidation due to retirement of manager | USD 1.4bn (March 2015) | Fund liquidation |
| Claren Road Asset Management (55% owned by Carlyle Group)* | Poor performance | 2015 | Redemptions of USD 7.3bn since September 2014; Operating a delayed-repayment schedule | USD 8.5bn (September 2014) | USD 1.2bn (January 2016) |
| Fortress Global Macro Hedge Fund | Poor performance | 2015 | Liquidation of USD 1.6bn global macro hedge fund following 17% loss in 2015 | USD 1.6bn (October 2015) | Fund liquidation |
| LionEye Capital Management | Investment loss of 19% in 2015 | 2015 | Liquidation of USD 1.5bn fund following redemptions from largest investors | USD 1.5bn (December 2015) | Fund liquidation |
| Renaissance Technologies | Poor performance | 2015 | Liquidation of USD 1.3bn underperforming fund | USD 1.3bn (October 2015) | Fund liquidation |
| Seneca Capital Investments | Investment loss of 6% in 2015 | 2015 | Liquidation of fund close due to losses – 6% in 2015 | USD 500mn (December 2015) | Fund liquidation |
| TigerShark Management | Poor performance | 2015 | Fund liquidation | USD 180mn (March 2014) | Fund liquidation |
| Diversified Global Asset Management Corp (DGAM), (owned by Carlyle) | Poor performance | 2015 | Liquidation of Carlyle's hedge-fund-of-funds unit DGAM | USD 6bn (February 2016) | Fund liquidation |
| Ashmore* | AUM fell by 15 per cent year on year – Emerging market volatility | 2015 | Met USD 9.8bn in redemptions | USD 58.9bn (June 2015) | USD 52.6bn (July 2016) |
| Third Avenue Focused Credit Fund | Poor performance | 2015 | >USD 1bn redemptions from July-December 2015; Redemptions frozen, fund liquidation in December 2015 | USD 2.1bn (July 2015) | Fund liquidation |
| Bain Capital Absolute Return Capital Hedge Fund | Three years of investment losses – 13% loss in first half of 2015 | 2015 | Closure of USD 2.2bn Absolute Return Capital hedge fund | USD 2.2bn (October 2015) | Fund liquidation |
| BlackRock Global Ascent Fund | Investment losses of 9.4% in 2015 | 2015 | Closure of USD 1bn Global Ascent fund | USD 1bn (November 2015) | Fund liquidation |
| Brevan Howard Asset Management* | Investment losses | 2015 | USD 3bn fall in assets in first nine months of 2015 | USD 40bn (2013) | USD 20bn (May 2016) |
| Everest Capital | Investment losses - CHF exchange rate cap | 2015 | Fund liquidation of 6 out of the firms' 7 remaining hedge funds | USD 3.0bn (December 2014) | Fund liquidation |
| PIMCO* | Key personnel departure | 2014 | Management changes; Met $600bn in redemptions including $200bn in flagship Total Return Bond Fund; 3% reduction in workforce | USD 1.97tn (June 2014) | USD 1.5tn (June 2016) |
| PIMCO Total Return Fund | Key personnel departure | 2014 | Management changes; Met redemptions of $200bn | USD 292.9bn (April 2013) | 86.8bn (July 2016) |
| EII Capital Management | Key personnel departure | 2014 | Departure of several key personnel; Terminate of contracts by several US pension funds; Firm continues to operate | USD 5.3bn (January 2014) | USD 1.5bn (August 2016) |
| SAC Capital Management | Allegations of insider trading by portfolio managers | 2008-2012 | Converted to family office, renamed Point72, no external assets; USD 1.184bn financial penalty; USD 602mn SEC settlement; USD 10mn payout to resolve shareholder lawsuit | USD 15bn (January 2013) | USD 11bn (2015) |
| Tradewinds Global Investors LLC | Key personnel departure | 2012 | AUM fell 72% in 10 months; Triggered by announcement in March that star money manager David Iben was leaving; Orderly wind down in progress | USD 33bn (January 2012) | USD 3bn (August 2016) |
| Axa Rosenberg | Concealed model error, fraud alleged | 2011 | Founder barred; Management changes; Met redemptions of USD 29bn in 2010, USD 5bn in 2011, and USD 3bn in 2012; USD 242mn settle with SEC | USD 70bn (July 2009) | USD 26.3bn (September 2014) |
| Gartmore Group | Key personnel departure | 2010 | Sold to Henderson 2011; Met redemptions of USD 1.29bn in just seven weeks | GBP 22bn (January 2010) | GBP 15.7bn (February 2011) |
| Galleon Group | Insider trading | 2009 | Firm closed; Founder criminally convicted; Funds liquidated 2009 | USD 7bn (October 2009) | Fund liquidation |
| The Reserve Primary Fund | Investment losses in Primary Fund | 2008 | Primary Fund in liquidation; The Reserve firm in liquidation | USD 65bn (fund) USD 125bn (total) (August 2008) | Fund and firm liquidation |
| Absolute Capital Management | Securities fraud | 2007 | Founder criminally charged; Multiple enforcement actions; Civil suits | USD 3bn (June 2007) | USD 885mn (June 2008) |
| Janus Capital Management | Market timing | 2003 | Fines; Management changes; Met redemptions of USD 3.2bn in September 2003 alone | USD 147bn (May 2003) | USD 133.6bn (January 2005) |
| Pilgrim Baxter | Market timing | 2003 | Principals barred; >20% decline in AUM from September 2003 to end December, 2003; Old Mutual (owner since 2000) closes some funds; rebrands | USD 7.4bn (September 2003) | USD 5.4bn (January 2004) |
| Putnam | Market timing | 2003 | USD 14bn (5%) decline in first week of November 2003; Management changes; Fines; Sold to Great West Life in 2007 | USD 277bn (October 2003) | USD 141bn (September 2013) |
| Strong Capital | Market timing | 2003 | Principal barred; Met redemptions of USD 4.9bn (USD 1.6bn of that in one month); Sold to Wells Fargo in 2005 | Data unavailable | USD 33bn (March 2004) |
| Canary Capital Partners | Market timing Late trading | 2003 | Fines; Principal receives 10 year bar | USD 500mn (2003) | Data unavailable |
| Alliance Capital Management | Market timing | 2003 | Fines and Disgorgement; Management changes; USD 790m of mutual fund outflows from September to December, 2003, increase in AUM attributed to market appreciation; Renamed Alliance Bernstein in 2006 | USD 434bn (February 2002) | USD 489bn (February 2004) |
| Advanced Investments Management | Breach of client guidelines (all separate accounts) | 2002 | Firm closes 2002; Civil litigation; Regulatory fines | USD 5.5bn (2002) | Firm closes |
| Long Term Capital Management | Investment losses of USD 4.6bn in four months | 1998 | Creditor investments to avoid loss; Firm dissolved 2002; Creditors make small profits when unwind completed | USD 5bn (Begin 1998) | Firm closes |
| Community Bankers MMF | Investment losses in structured notes | 1994 | Fund liquidated September 1994 | USD 82mn (1994) | Fund liquidation |
| TCW/Term Trusts 2000 & 2003 | Investment losses-MBS | 1994 | Civil litigation; Regulatory fines for fund marketers; Manager firm ownership change 1996 | Two trusts: USD 1.5mn (1994) | Initial drop to USD 1.0mn Trusts liquidate at term end |
| Piper Jaffrey/Institutional Government Bond Fund | Investment losses-MBS | 1994 | Fund closed to new investors - assets run off; Civil litigation; Parent of manager sells stake to ITT insurance 1997 | Fund: USD 750mn (1994) | Initial drop to USD 590mn then run off to zero |
| Hyperion (Term Trusts 1997,99,03) | Investment losses-MBS | 1993 | Civil litigation; Regulatory fines for fund marketers | USD 1.5bn (1993) | USD 1.2bn |
| Barlow Clowes | Investment losses Fraud | 1988 | Firm closed, funds liquidated, UK government made ex gratis payment to investors; UK Government repaid from trustees GBP120mn of GBP153mn payment-2011 | GBP 188mn (1988) | Firm closed, funds liquidated |
*Represents large outflows, not fund or manager closures.