Tuesday, 24 May 2016
Last updated 9 hours ago
Aug 11 2008 | 12:06pm ET
A London hedge fund has formally alerted the U.K.’s financial regulator that it was the victim of collapse rumors on Friday.
Sabre Fund Management said the “spoof” rumors suggested that rogue trading had the firm facing big losses. In addition to alerting the Financial Services Authority, Sabre has begun its own investigation of the rumors, which included details that pointed to Sabre.
“Our investors already know that we’re perfectly alright; a lot of our business is via segregated managed funds so they can see their assets very clearly,” managing principal Melissa Hill told Thomson Investment Management News. Hill said the firm’s Sabre Style Arbitrage Fund has met its performance expectations this year.