Shaker closes new £1bn fund

Shaker Investments has raised $1bn for its hedge fund and has closed to new investment. The Shaker Heights Investment Fund is a long/short equity fund that was launched in 1997 and has returned 34.42% for 2001 (to 30 September). Shaker Investments was set up 10 years ago and has $2bn of assets under management across its long-only and long/short products. Shaker's long-only funds have returned 20% in net annual returns.