Brummer and Partners, Sweden's largest hedge fund firm, has taken the decision to shut both its market-neutral fund and the asset manager than runs the portfolio, following a "period of weak return".

The firm has liquidated its European Arbor Market Neutral fund and Björn Lind, chief executive of Arbor Asset Management, has resigned, according to a note posted on Brummer's website by chairman Patrik Brummer and chief executive officer Klaus Jäntti.