Thursday, 23 October 2014
Last updated 3 hours ago
Jan 16 2008 | 6:41am ET
Mercury Real Estate Advisors has restricted withdrawals from two of its hedge funds stricken by the credit crisis.
The firm told investors that it would withhold between 50% and 60% of the net asset value of shares redeemed, Hedge Fund Alert reports.
In a letter dated Dec. 18, Mercury said it was either unable or unwilling to sell fixed-income holdings in its Real Estate Securities and Real Estate Securities Offshore funds. The former declined by 8.7% last year through November, and the latter dropped 9.5%.
The onshore version of the fund manages $105 million, and the offshore version $205 million. Overall, the firm manages $900 million in hedge funds.
Sep 22 2014 | 4:15pm ET
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