Wednesday, April 1, 2009

Cayman Islands may protect hedge fund

According to Bloomberg, the Dynamic Decisions Corporate Management may be moved to the protection of an outside firm after the management was accused of gross mismanagement and misfeasance.

According to the filing, London-based Dynamic Decisions founder
Alberto Micalizzi had stated that the fund had “substantial” losses last year and that assets may have fallen to as low as $20 million, excluding illiquid investments. The fund had $550 million at the end of 2008, according to a March 13 conference call the fund’s board had with investors.

Read the full report here.

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