Sunday, 4 October 2015
Last updated 1 day ago
Oct 13 2008 | 10:03am ET
The vultures are circling hedge fund investors, in the form of an innovative new fund of hedge funds.
Permal Investment Management Services has launched a fund of funds to buy hedge fund investments at a steep discount from other funds of funds forced to sell.
The fund, which has been buying about one investment per month from various sellers, can generally buy the investments at a 25% to 30% discount to their market value, but the ongoing market disaster is playing right into its hand.
“Now, it’s available at a much grander scale,” Omar Kodmani, senior investment officer, told Financial News. “Discounts could be anywhere between 10% and 50% in the extreme. Now, larger discounts are available than is normally the case.”
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…