Federal prosecutors are expected to indict a former chief executive of what was once one of the world's largest investment funds on charges that he signed off on bogus tax shelters designed to save the wealthiest of the wealthy millions, according to the New York Times and the Seattle Times.
Pension funds look to invest in hedge funds (Fund News)
Pension funds, family trusts and other investors are expected to invest at least $50bn in hedge funds this year, according to a study by Barclays Capital.
Pequot Capital Management will be liquidated (Fund News)
Arthur Samberg is closing down his hedge fund, Pequot Capital Management, saying an investigation by US authorities into allegations of insider trading made its continued operation ??untenable?.