{"id":9512,"date":"2008-12-29T00:00:00","date_gmt":"2008-12-29T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"westpac-freeze-on-12b-held-in-us-hedge-fund","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2008\/westpac-freeze-on-12b-held-in-us-hedge-fund.html","title":{"rendered":"Westpac freeze on $1.2b held in US hedge fund"},"content":{"rendered":"<p>Sydney Morning Herald &#8211; The&nbsp;Westpac-controlled BT Investment Management delivered grim season&#8217;s greetings to retail investors when it froze withdrawals from a $1.2 billion fund days before Christmas.<\/p>\n<p>The funds manager suspended all redemptions from its Global Return Fund, which has invested in international hedge funds since 2001 and into which investors have each poured a minimum $50,000.<\/p>\n<p>&quot;BT Investment Management has decided to suspend redemptions from the fund &hellip; as we believe, because of unstable market conditions, assets cannot be realised at prices that would be obtained in a stable market,&quot; Dirk Morris, the chief executive of BT Investment Management, wrote to investors. &quot;At this point, we are unable to ascertain when the suspension will be lifted.&quot;<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/business.smh.com.au\/business\/westpac-freeze-on-12b-held-in-us-hedge-fund-20081229-76so.html\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sydney Morning Herald &#8211; The&nbsp;Westpac-controlled BT Investment Management delivered grim season&#8217;s greetings to retail investors when it froze withdrawals from a $1.2 billion fund days before Christmas. The funds manager suspended all redemptions from its Global Return Fund, which has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[4439,67,4776,4771,4774,4775,3540,1562,3806,4325,4769,4772,3841,4770,4773,4292],"class_list":["post-9512","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-assets","tag-chief-executive","tag-christmas","tag-days-before-christmas","tag-dirk","tag-greetings","tag-hellip","tag-investment-management","tag-morning-herald","tag-redemptions","tag-retail-investors","tag-stable-market","tag-sydney-morning-herald","tag-unstable-market","tag-westpac","tag-withdrawals"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9512","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=9512"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/9512\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=9512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=9512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=9512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}