Hedge fund manager Absolute Capital Management is to close two of its funds at the end of the month as 12-month bars on redemptions are removed. However, it revealed today two other funds have bucked the industry trend by posting double-digit returns this year, and, overall, its products have not lost money this month.

In a regulatory filing today, the Swiss-headquartered manager said it would close its Absolute Octane and Absolute East West funds owing to the level of requests from investors to withdraw their money.