FT reports: YouGov has abandoned plans to form its own hedge fund in partnership with Numis Securities and Four Capital Partners after Numis failed to raise the funds. The online market research company, which yesterday announced near-tripled revenue for the year to July 31, had intended to use information from its polls for its own financial gain, as well as selling the data to customers. Numis declined to comment but YouGov said the “prevailing market conditions were not conducive to the launch of this fund” and it would disband the joint venture. “It is not the greatest moment to launch such an idea,” said Nadhim Zahawi, YouGov chief executive. “The opportunity to use primary research to inform trading decisions is very strong for us.” YouGov said demand for its products from financial services customers remained healthy, with financial institutions leading demand for its pan-European products.
lol…yup