On Air Now

Current Show

The Savage Nation   8:00 PM - 11:00 PM

Call Michael Savage at 855-400-7282

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1320 AM Sioux Falls, SD 107.9 FM Sioux Falls, SD

Weather

Current Conditions(Sioux Falls,SD 57104)

More Weather »
41° Feels Like: 35°
Wind: SSE 9 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Tonight

Partly Cloudy 31°

Tomorrow

AM Clouds/PM Sun 66°

Sat Night

Mostly Clear 50°

Alerts

Jeffrey Vinik to close hedge-fund: WSJ

(Reuters) - Hedge-fund manager Jeffrey Vinik plans to close Vinik Asset Management after poor performance that coincided with several changes at the firm, the Wall Street Journal reported on Friday.

Vinik plans to return several billion dollars to outside investors at the end of June, the newspaper reported. (http://r.reuters.com/ped87t)

Vinik, who also owns the Tampa Bay Lightning hockey team, rose to prominence at the helm of Fidelity Investments' Magellan fund in the 1990s.

"After a great deal of consideration, we have made the difficult decision to return our investors' funds," the newspaper quoted Vinik as saying in a letter to investors on Friday.

Some of the investment staff of the hedge fund, which largely bets on and against stocks, will start separate firms, the newspaper reported.

(Reporting by Neha Alawadhi in Bangalore)

Comments