Tue, Jun 30, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

RUMOUR: Infinium Global not reachable, not returning money to investor

Wednesday, June 12, 2013

Benedicte Gravrand, Opalesque Geneva:

An investor has alerted Opalesque of a fund whose managers are unreachable and not returning his redeemed money. Here, we report his story.

The Infinium Global Fund launched in July 2010 with a foreign currency-related trading strategy developed by two brothers and co-directors Andriy and Anto Kalyta. The $19.7m fund reportedly returned +43% in 2010, +104% in 2011, +77% in 2012 and +18% in 2013 (to May). The two brothers run the fund from Bratislava, the capital of Slovakia, and their registered office is in Grand Cayman.

An Asia-based investor alerted Opalesque about an investment he had made in Infinium where he bought 100 shares in August 2011, followed by a redemption request he sent to Infinium during the first week of April 2013. The shares’ NAV amounted $2,384 by the end of April. Lukas Matiasko, Investor Relations at Infinium, assured him he would receive his redemption in early May. As the redemption was late in coming, Andriy Kalyta then assured the investor he would get his money back in late May.

According to the fund’s Offering Memorandum, the minimum initial subscription amount per investor must be $100,000 (and $100,000 subsequently), the price per share was $1,000, the redemption notice period is monthly, and the fund "may defer payment of the redemption price if it is unable to do so because of circumstances beyond its control."

As no money ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: New systematic strategy managed alongside research firm outperforms S&P500[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: An emerging CTA manager explains how he runs his strategy, which is based on an index produced by a research firm. Peter Turk is head of

  2. Hedge funds panic over Greece[more]

    Komfie Manalo, Opalesque Asia: Some investors are in panic mode as Greek Prime Minister Alexis Tsipras announced Sunday night that the banks and the stock market would be closed Monday, said

  3. Alternative investment industry could grow to $13.6tln in five years[more]

    Komfie Manalo, Opalesque Asia: Leading auditing and advisory group PwC said that the global alternative investment industry, which includes hedge funds, private equity and real assets, is set to increase to $13.6tln within the next five years. "Be

  4. Qbasis gets $200m-plus investment in 'black swan' hedge fund[more]

    From Reuters.com: A hedge fund that more than doubled clients' money during the 2008 financial crisis has attracted more than $200 million from an investor aiming to cash in on fresh ructions in global markets. Qbasis Invest has secured the investment from Britain's Omada Capital, Florian Wagner, wh

  5. Outlook - Jim Rogers: Turmoil is coming[more]

    From Peakprosperity.com: Two years since his last interview with us, investor Jim Rogers returns and notes that the risks he warned of last time have only gotten worse. In this week's podcast, Jim shares his rational for predicting: increased wealth confiscation by the central planners

 

banner