Sunday, 3 May 2015
Last updated 2 days ago
Jun 12 2008 | 2:00am ET
Toscafund Asset Management is denying rumors that it is liquidating its stock portfolio, suggesting that the whispers may be an effort to manipulate prices.
The London-based hedge fund has had a rough year: It was down 17% through May 22, as many of its largest bets have plummeted in value. But firm founder Martin Hughes says reports of its death are greatly exaggerated.
“We are aware of the stories circulating in the market which are totally wrong,” Hughes told Bloomberg News of talk that it was selling off its US$8 billion stock portfolio. “It is certainly not Tosca that is liquidating a portfolio.”
Hughes added that the rumors “may be a deliberate attempt at market manipulation.”
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…