Sunday, 23 November 2014
Last updated 2 days ago
Jan 3 2008 | 8:24am ET
It’s not much, but investors in a failed Canadian hedge fund are set to get a bit more of their money back. An Ontario court gave the receiver of Portus Alternative Investment Management the go-ahead to distribute C$12.5 million (US$12.6 million) to some Portus investors.
The new disbursement will bring to C$132.5 million (US$133.7 million) the amount investors have recovered from the fund, which collapsed in 2005. In total, they are estimated to have lost as much as C$800 million (US$807.5 million).
Portus co-founders Boaz Manor and Michael Mendelson were charged with fraud for their roles in the alleged scam. Mendelson pleaded guilty in November and was sentenced to two years in prison in exchange for testifying against his former partner. Manor, who spent two years on the run in Israel before his return to Canada two months ago, is set to appear in court on Jan. 21.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...