London Hedge Fund Halts Redemptions

Sep 11 2007 | 3:54pm ET

The roiling credit markets have led yet another hedge fund to suspend redemptions. London-based Wharton Asset Management said today it would halt redemptions in its flagship Y2K Finance fund until at least December, “due to current market turbulence.”

The fund, which focuses on asset-backed securities investments, was down 30% in June and July. Another Wharton fund, Trio Finance—which specializes in real estate ABS—is down 46% this year, though the firm has not suspended redemptions from the Trio fund.

The precipitous fall is especially dramatic for Wharton, which had been the best-performing non-U.S. fixed-income hedge fund over the three years to September 2006.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...