Senior officials of the Primary Reserve fund, a $63bn US money market fund that imploded last September, were charged with fraud on Tuesday by the Securities and Exchange Commission.
Pension funds increased hedge fund allocation in 2008 (Fund News)
European pension funds continued to increase their allocations to alternative assets such as hedge funds and commodities last year, according to a report by Mercer Investment Consulting.
According to officials, who are appointed to liquidate Stanford International Bank (SIB), it will take at least five years to locate money lost by investors in the alleged $8bn ??Ponzi? scheme run by Texan billionaire Sir Allen Stanford.