New York (HedgeCo.net) – London-based hedge fund, Dynamic Decisions Capital Management, which operated the Cayman Islands-based Growth Premium Master fund is being investigated by the Serious Fraud Office (SFO).
The hedge fund collapsed in April this year when investors applied for it to be put into liquidation, making accusations of “gross mismanagement and misfeasance”.
The Guardian reports that it is alleged that the hedge fund moved a large proportion of its assets out of equities and into asset-backed bonds that could be converted into oil. According to reports, the company then “received legal advice that raised questions relating to the counterparties to the oil sales contracts that lie behind the bonds”.
Dynamic Decisions’ chairman, Dr Alberto Micalizzi, said in an interview with the Times, “The investigations are not founded, first of all. There have been complaints from investors about the delays in payment of redemptions.” He said that it was his “expectation” that investors would receive their money back in full.
Alex Akesson
Editor for HedgeCo.net
alex@hedgeco.net
HedgeCo.Net is a premier hedge fund database and community for qualified and accredited investors only. Membership in HedgeCo.net is FREE and EASY. We also offer FREE LISTINGS for Hedge Funds!
