Mon, Sep 22, 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

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. SEC charges 19 investment firms and one trader for breach of Rule 105[more]

    Benedicte Gravrand, Opalesque Geneva: The Securities and Exchange Commission (SEC) started a push to enhance the enforcement of Rule 105 of Regulation M last year to uncover hedge funds and private equity firms that have illegally participated in an offering of a stock after short selling it duri

  2. Fund managers, bullish on Europe, anticipate monetary policy separation of Fed and ECB[more]

    Komfie Manalo, Opalesque Asia: At least 202 fund managers with $556bn of assets under management said that while the European Central Bank (ECB) has eased its monetary policy that sent sentiments towards Europe to pick up, the Fed is expected to hike its rate in the spring of 2015. Investor

  3. Institutions - North Carolina workers call on state pension to dump up to $6bn in hedge funds, UK pension fund criticizes hedge fund fees[more]

    North Carolina workers call on state pension to dump up to $6bn in hedge funds From Forbes.com: The State Employees Association of North Carolina this afternoon called on state Treasurer Janet Cowell to withdraw all investments in hedge funds, which appear to amount to approximately $6 b

  4. News Briefs - Limited partners of investment managers may be subject to self-employment taxes, Just one week left until NYC's Rocktoberfest[more]

    Limited partners of investment managers may be subject to self-employment taxes On September 5, 2014, the Internal Revenue Service (“IRS”) issued Chief Counsel Advice 201436049, concluding that members of an investment manager were subject to self-employment taxes with respect to their e

  5. Institutions - Adviser's faith in hedge funds unshaken by CalPERS' move Advisers weigh in on CalPERS’ decision, Gina Raimondo sees no reason to follow California’s lead, exit hedge funds, Danish pension funds step up 'alternative investments'[more]

    Adviser's faith in hedge funds unshaken by CalPERS' move From WSJ.com: Financial advisers who use hedge funds in their clients' portfolios say they aren't rethinking that approach after a huge California pension fund announced plans to exit the hedge-fund market. The decision by the Cali