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Investors are expected to hit hedge funds with a flood of redemption requests this fall, but those who try to withdraw their money may be in for an unpleasant surprise. Most hedge funds have “lock-ups,” a minimum period of time during which investors agree to tie up their money and not make any withdrawals. Once […]
Bear Stearns Cos.’ decision to liquidate two bankrupt hedge funds in the Cayman Islands instead of New York may limit creditors’ and investors’ ability to get their money back. Bear Stearns Hedge Funds Under Fire While most of their assets are in New York, the funds filed for bankruptcy protection July 31 in a court […]
Bear Stearns Cos., the manager of two hedge funds that collapsed last month, blocked investors from pulling money out of a third fund as losses in the credit markets expand beyond securities related to subprime mortgages. The Bear Stearns Asset-Backed Securities Fund had less than 0.5 percent of its $900 million of assets in securities […]