The founders of hedge fund 5:15 Capital Management named it for a song whose opening and closing lines are, "Why should I care?"
Separately, 5:15 Capital is closing its doors.
The firm, which invests in government bonds, will shut by the end of the month after redemptions “driven by sector rotation” and “weakness in the fund-of-fund industry,” E.G. Fisher and Rob Wahl, co-founders of the Greenwich, Connecticut- based firm, wrote in the letter that was sent today to clients. Assets in the firm’s core strategy fell from a peak of $1 billion in early 2012 to $370 million as of April 1, they said….
Fisher and Wahl, former traders from Brevan Howard Asset Management LLP and RBS Greenwich Capital Markets, started 5:15 Capital in July 2009, naming it after a track from the British rock band’s 1973 album “Quadrophenia.” The flagship 5:15 Fund, Ltd. has returned 5.5 percent a year since its inception and posted positive returns every year except in 2013, during which it fell 0.4 percent, according to the letter. Its largest monthly drawdown was 2.5 percent in 2010.
Perhaps Fisher, Wahl & co. should have found another name for the Greek god of money.