Vega Asset Management, part of the Madrid and New York hedge fund group, is being scratched from the register at Companies House in the UK. Despite the value of the group's funds almost halving in the past year, this is not a closure but a decision not to open. Vega HQ has come to the conclusion that this is not the time to proceed with adding a UK company to its stable.
A spokesman said the UK company was set up as a speculative move â but with no use for it, Vega has now asked for the dormant company to be struck from the register. The group retains a London office in Mayfair, but expunging the UK company will save it a few much-needed pounds in registration fees.
