MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, November 7, 2002 SEC Sues Beacon Hill The SEC sued Beacon Hill Asset Management today, reports Reuters. The suit against the New Jersey-based hedge fund stemmed from more than $700 million of investment losses in the fund. The Commission ordered the fund to hand its remaining assets over to Ellington Management Group and to disgorge any "ill-gotten gains," according to the report. An anonymous source is quoted in the article saying that the hedge fund already moved roughly $400 million of assets to Ellington. Beacon Hill closed two funds in October. Printed from: MFWire.com/story.asp?s=3941 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |