Bloomberg – FrontPoint Partners LLC may see investor withdrawals from its health-care hedge funds after a manager allegedly received nonpublic information about Human Genome Sciences Inc.’s. hepatitis-C drug Albuferon.
“This fund will be subject to redemptions as the government will go after illegal profits,” said Peter Rup, chief investment officer at Artemis Wealth Advisors LLC, a New York-based firm that allocates money to hedge funds for clients. “Once one illegal trade by this fund is identified, all others will now be scrutinized.”
