Sat, Oct 21, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Troubled fund of funds firm Common Sense may lose another investor

Wednesday, September 18, 2013

amb
James Allan Bisenius
Komfie Manalo, Opalesque Asia:

Common Sense Investment Management is set to lose another investor after its CEO Jim Bisenius got embroiled in a prostitution sting and was arrested by authorities more than two weeks ago.

In a report, Business Journal said that a confidential memo from Portland-based wealth manager Arnerich Massena told clients he was planning to end its more than 20-year relationship with the fund firm, following the arrest of Bisenius and the funds’ recent poor performance. Arnerich’s clients invest in several Common Sense funds.

The report quoted Arnerich Massena’s memo as saying, "(We) will continue to monitor the situation closely and will provide updates on any changes at (Common Sense) and to our recommendation as we learn more. While our continuous due diligence of (Common Sense Investment Management) has never given us reason to question the firm's integrity or their safekeeping of our clients' assets, Mr. Bisenius' arrest raises serious concerns in spite of the fact that everyone is innocent until proven guilty under the American legal system."

Bisenius founded Common Sense Investment Management, a fund of funds manager based in Oregon, 23 years ago. The firm manages $3.2bn in assets under management, down from $3.9bn last year and $4.2bn billion in 2011, says ......................

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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad