Financier Chris Ruffle under investigation over alleged £5m fraud (Fund News)
Chris Ruffle, who helped run the Chinese joint venture of international investment firm Martin Currie Investment Management, is understood to be under investigation over the "fraudulent" use of client funds. The potential action against Mr Ruffle emerged as Martin Currie agreed to pay a record $14m fine for its part in the scandal.
Zoe Cruz liquidates Voras Capital hedge fund (Fund News)
Zoe Cruz, the former Morgan Stanley co-president, is closing her Voras Capital Management hedge fund and returning investor money, according to people familiar with the fund.
Alan Howard, co-founder of Brevan Howard, one of Europe's biggest hedge fund firms, grew his total wealth by 44 percent to 1.4 billion pounds, the survey by the British newspaper shows. The Sunday Times Rich List lists the 1,000 richest people and families in the UK and the 250 wealthiest in Ireland.
Swiss lawmakers plan new hedge-fund rules (Fund News)
Swiss lawmakers are considering proposals to tighten regulations on hedge funds and other asset managers that will align the Alpine nation with draft European union rules.