Asian macro hedge fund winds up

Investors in Pagoda Advisors, a Singapore-based Asian macro fund, say the fund is in the process of winding up and returning capital to its investors. A number believe its two founders, Ian Emmett and Julian Reiss, have been recruited by US-based Tudor Investments, although neither man was prepared to comment at this stage. Since its launch less than a year ago, Pagoda has been viewed as a rising star of an industry traditionally dominated by equity long/short managers. The young h…