DE Shaw‚??s move means that of the largest six hedge funds, only two, the UK‚??s Man Group and the US firm Och-Ziff, are still accepting cash into their flagship funds. Many traditional hedge fund strategies have become far less profitable due to quantitative easing, bank deleveraging and a tail-off in corporate dealmaking.
DE Shaw is mainly known for its style of using mathematical and statistical modelling to spot investment opportunities ‚?? a legacy left by founder David Shaw, a mathematician who resigned from the day-to-day running of the firm in 2002.