SBD/Closing Bell

Lightning Owner Vinik To Close Hedge Fund To Focus On Team, Family

Lightning Owner Jeff Vinik “told investors in a letter Friday that he plans to shut down his hedge fund and return money it manages for clients by June 30.” In the letter, he wrote that he “wants to devote more time” to the team and to his family. The investment performance of Vinik Asset Management has “slipped in the past year.” Vinik in the letter wrote, “While we both love competing with the market day in and day out, it is time for us to take a break” (BOSTON.com, 5/3).
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