Whitney Tilson is closing his hedge fund, the latest high-profile investor to close shop amid an extended period of disappointing returns for the industry, The Wall Street Journal reports.

Tilson, 50 years old, shared his decision with clients on Sunday, according to people close to the matter. His firm, Kase Capital Management, has lost about 8% so far this year, compared with a gain of 13.7% for the S&P 500, including dividends. Tilson manages about $50m, down from a peak of $180m in 2010.