No Bonus For You! Amaranth-Scarred Ivy Scotches Payouts

The turmoil continues at Ivy Asset Management, as the Bank of New York-owned fund of hedge funds will reportedly not pay out year-end bonuses. The firm, with about $15 billion in assets under management, has suffered redemptions of up to $1 billion and a major management shakeup after massive losses resulting from the collapse of portfolio fund Amaranth Advisors.