Drake to Shut Its Largest Hedge Fund, Plans New Fund This Year

``The firm said it's winding down the $2.5 billion Global Opportunities Fund after it lost 25 percent last year and investors asked to pull money. The firm's managers, Anthony Faillace and Steve Luttrell, will decide on the fate of its two other hedge funds by the end of the May. They will continue to manage $8 billion in traditional fixed-income accounts.''