Caledonia, founded by Will Vicars and Mike Messara, has pressed sell at a time when its flagship fund is battling poor performance and investor redemptions.

Caledonia, founded by Will Vicars and Mike Messara, has pressed sell at a time when its flagship fund is battling poor performance and investor redemptions.

The selldown comes at a time when Caledonia is battling lacklustre returns from its flagship global fund, which was down 32.7 per cent in the year to June 30.