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Text size [+][-]  Tuesday February 9 2010GLOBAL EDITION

Considered view
03 Dec 2008 21:29

Redemption song

Context News

Fortress Investment said it halted redemptions from its Drawbridge Global Macro hedge fund after investors asked to withdraw $3.51bn by year-end. Fortress said that, having suspended redemptions, the fund will have approximately $3.65bn under management on January 1.

 

 

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The whole industry is hurting. But publicly-traded funds like Fortress, GLG and Och-Ziff must expose all of their wounds to the public. This amplifies their bad patches and flaws and adds a negative feedback loop to their risk factors.

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