Thu, Jul 30, 2015
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. Bridgewater turns bearish on China[more]

    Komfie Manalo, Opalesque Asia: The world’s biggest hedge fund Bridgewater Associates and one of the most vocal of China’s potential is now turning its back against the world’s second largest economy as it joins a growing list of high-profile investors who are challenging China’s potentials.

  2. Opalesque Exclusive: Despite bumpy June/July, CTAs hold on[more]

    Bailey McCann, Opalesque New York: To say that things have been rocky in managed futures recently is putting it mildly. In June, the industry saw its worst month on a performance basis in the past four years. Then yesterday,

  3. Launches - Ex-Brevan Howard star Rokos builds team for new fund, Former Och-Ziff manager’s firm starts health care hedge fund, Industry veterans launch commodity investment firm Aron Capital Management, Nikko Asset Management launches two UCITS funds, Capital Group plans to debut Asian investor targeted fund[more]

    Ex-Brevan Howard star Rokos builds team for new fund From WSJ.com: Chris Rokos, a former star trader at Brevan Howard Asset Management LLP, has hired an economist from Nomura to join the team he’s assembling for his much anticipated hedge fund launch. Mr. Rokos, whose firm is due to b

  4. Institutions - Pension fund dismisses Texas consultant, Rhode Island pension fund gets 2.2% investment return, far below assumed rate of 7.5%, New Jersey pension investments see a drop-off in returns[more]

    Pension fund dismisses Texas consultant From Sandiegouniontribute.com: The county retirement board on Thursday terminated the Texas consultant who was given the reins of the $10 billion pension fund, and whose investment picks left many employees and retirees feeling taken for a ride.

  5. SWFs - Sovereign wealth funds paid around $14 billion in fees[more]

    From SWFinstitute.org: When it comes to the financial sector, asset management is one of the most profitable industries in the world. The Boston Consulting Group put out a 2014 figure saying there is US$ 74 trillion worth of professionally-managed assets. One of the fastest growing institutional inv

 

banner