United Capital halts hedge fund refunds

news.yahoo.com

United Capital Markets Holdings Inc. has stopped honoring refunds to investors in some of the firm's Horizon Strategy group hedge funds that invested in subprime-mortgage bonds, Bloomberg reported on its Web site on Tuesday [3 Jul 2007].

The funds hold most of the firm's assets under management, which stood at about $619 million as of March, according to the report. The company has had an unusually high number of redemption requests, including one from an investor who had put up about 25% of the funds' money, and it did not want to be a forced seller of securities, Bloomberg said.

Post a Comment:

Comments are closed for this entry.

« BIS warns of Great... | Main | Banks losing up to... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004