Thursday, 31 July 2014
Last updated 4 min ago
Dec 22 2010 | 11:53am ET
Clients of Level Global Investors will have an extra month to think about whether they wish to remain such. The New York-based firm, one of three hedge funds raided as part of the Justice Department’s insider-trading probe, said investors will have until the end of next month to file redemption requests.
Normally, such withdrawal notices would be due at the end of the year.
Level Global, which manages about $4 billion, has said it has been assured by the government that it is not the focus of the probe, which has already produced the arrests of six people associated with expert-network firm Primary Global Research. Level Global was a client of Primary Global and worked with at least one of the consultants arrested last week.
Level Global has denied that it has suffered large redemption requests in the month since the raid. Last week, the firm told clients that redemptions have so far amounted to less than 10% of its assets.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…