As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.
Tuesday, 24 January 2017
Last updated 13 hours ago
Aug 4 2010 | 11:26am ET
Editor’s/Publisher’s Note: We at FINalternatives pride ourselves on the quality and accuracy of our journalism. But, like all journalists, we do make mistakes. We believe we made one last week when we published the article, “KingFisher Launches Second Global Macro Hedge Fund” on Thursday.
After further research and reporting, we now believe that KingFisher and portfolio manager Andrew Gill seriously misrepresented their operations in conversations with FINalternatives, and retract our original article. We apologize for our error.
KingFisher Asset Management, which last week announced the launch of its second hedge fund, claims that Citco Fund Services is its administrator, PricewaterhouseCoopers is its auditor, and Goldman Sachs is its prime broker. But sources close to two of those service providers tell FINalternatives that neither has a relationship with the Fresno, Calif.-based firm or portfolio manager Andrew Gill. Phone calls to the third service provider were not returned by press time.
Last week, FINalternatives reported that KingFisher had launched its second fund last month with $170 million in assets under management. But despite the fact that the firm claims to manage $2.7 billion, a number of pension consultants and prime brokerages that spoke to FINalternatives said they were totally unfamiliar with the allegedly seven-year-old firm.
Despite several phone calls and e-mails, Gill could not be reached for comment by press time.
Research by FINalternatives also failed to come up with any evidence of Derbyshire Capital Partners, a hedge fund that Gill lists among his former employers. A call to Lehman Brothers, which Gill also lists as a former employer, was not returned by press time.