Saturday, 10 October 2015
Last updated 19 hours ago
Feb 20 2009 | 1:20am ET
Another hedge fund hit by the Bernard Madoff scandal is calling it quits. Reichmuth & Co. said it would close its Reichmuth Matterhorn fund after Swiss regulators rejected its plan to restructure the fund.
The Swiss private bank told investors in a Wednesday letter that closing Matterhorn and launching a new fund was “a solution for a fair and equal treatment of all investors.” Reichmuth called the Swiss Financial Markets Advisory Authority’s decision “disappointing,” and said it would return roughly half of the fund’s remaining assets to investors in April, with the rest coming in quarterly installments through the end of 2010.
Matterhorn lost more than $300 million in Madoff’s alleged $50 billion Ponzi scheme.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…