Wednesday, 1 October 2014
Last updated 3 hours ago
Jul 21 2008 | 9:11am ET
Cayman Islands authorities have arrested a man in connection with the collapse of several hedge funds last month.
The unidentified 47-year-old has been taken into custody on suspicion of theft, false accounting and issuing false documents. It is thought that investors lost some US$70 million in the Grand Island hedge funds, although police say they do not know exactly how much was lost. It is also unclear how many investors are affected.
In June, the four funds—three registered with the Cayman Islands Monetary Authority and one unregulated offering—were put into voluntary liquidation by their shareholders. PricewaterhouseCoopers has been appointed the funds’ receiver.
The Grand Island funds primarily traded oil. Close Brothers served as the fund’s administrator, and a prominent Cayman businessman, Naul Bodden, served as a director for at least one of the funds, according to Cayman NetNews.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...