Tue, Oct 21, 2014
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

Banner

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: What's next for trend followers?[more]

    Bailey McCann, Opalesque New York: New research out from Ibbotson touches on a key debate happening among investors and fund managers, specifically whether long term trend followers can survive in the new

  2. Commodities - Oil wreaking havoc on small-cap energy stocks sliding 36%[more]

    From Bloomberg.com: Owning almost anything in the U.S. stock market has been a losing proposition since September. Owning smaller energy companies has been a catastrophe. Hercules Offshore Inc. and Resolute Energy Corp. are among 19 oil-and-gas equities in the Russell 2000 Index that lost more than

  3. Investing - Hedge funds favor equity long/short, Strategic bond managers hedge against further high yield sell-off[more]

    Hedge funds favor equity long/short From Securitieslendingtimes.com: Equity long/short strategies will generate good returns for hedge funds in the future, according to a panel at this year’s Risk Management Association Conference on Securities Lending in Naples, Florida. Panellists Sand

  4. Legal - Ex-hedge fund analyst weeps as judge hands down 5 year sentence, Former Columbus investment manager Steven P. Moore indicted on theft charges, SEBI confirms ban for Hong Kong hedge fund, SEC announces enforcement action against compliance officer[more]

    Ex-hedge fund analyst weeps as judge hands down 5 year sentence From Hereisthecity.com: An ex-hedge fund analyst was sentenced to 5 years in prison for his role in insider-trading scheme. The New York Post reports that former hedge fund analyst Matthew Teeple was sentenced Thursday to fiv

  5. Sparx optimistic about outlook for Japan[more]

    Benedicte Gravrand, Opalesque Geneva: According to SPARX, there are causes to be optimistic about the outlook for the Japanese market and the country's economy in general. Sparx Asset Management is a Tokyo-based asset manager, part of