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Hedge Funds

Hedge Fund Alert :: Search Results

by posted 10months ago 56 views
A large fund-of-funds manager raised a red flag about Premium Point Investments’ asset-valuation policy seven years before a federal grand jury indicted the firm’s founder and two other executives on fraud and conspiracy charges. In 2011, while conducting a due-diligence review of Premium Point, the unidentified fund of funds challenged a proposal by the fund manager to use “imputed” broker quotes to mark portfolios of mortgage-backed securities — rather than the actual bids quoted by brokers.