Ramius is liquidating the onshore version of its multi-strategy fund of hedge funds, HFMWeek reports. The alternative investment management unit of the Cowen Group is closing the Ramius Multi-Strategy FOF due to the low-rate environment after the low-volatility portfolio’s single-digit returns failed to attract investors.

The offshore version of the portfolio, which has $140 million under management, is still trading. Ramius closed its two multi-strategy hedge funds, the Ramius Multi-Strategy and the Ramius Enterprise funds, last year.

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