The $9.5bn activist fund, run by Chris Hohn, proposed cutting fees and easing withdrawal limits to retain clients after top executives quit and it lost 43 per cent last year.
Cayman Islands to release more data on hedge funds (Headlines)
The Cayman Islands, home to most of the world's hedge funds, is planning to reveal more information about them, the country's regulator said, as pressure on the alternative investment industry rises.
Sumitomo Trust Finance H.K., the asset-management unit of of one of the largest Japanese banks, will start a new multi-strategy hedge fund that invests in Japanese stocks, index options, futures and credit-default swaps, Bloomberg News reported.
Sir Allen Stanford, the Texan billionaire accused by US regulators of perpetrating an $8bn fraud, was yesterday arrested in Richmond, Virginia by federal law enforcement officials.