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.
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.
Vincent Tchenguiz has overthrown the board of Bramdean Alternatives, the listed hedge fund and private equity fund of funds, in what is expected to be the precursor to a liquidation of its assets.