Hedge fund exit requests drop to six-month low in July (Fund News)
Investor demand to pull money out from hedge funds dropped to a six-month low in July, following portfolio adjustments during the previous month, data released on Monday showed. The SS&C GlobeOp Forward Redemption Indicator fell to 3.15% in July from 4.8% in June and lowest since January
Prosecutors give SAC Settlement Ultimatum (Fund News)
FT reports that US prosecutors have given SAC Capital until November to resolve criminal charges against the hedge fund founded by Steven Cohen or risk paying more than the $1.8bn offer on the table, according to people familiar with the matter.
Ex-Sentinel Management trader pleads guilty in fraud (Fund News)
Bloomberg reports that former Sentinel Management Group Inc. portfolio manager Charles K. Mosley pleaded guilty to two counts of investment-adviser fraud before a federal judge in Chicago and faces as long as 10 years in prison.