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Alternative Market Briefing

AlphaMetrix says it is encountering "significant cash flow issues"

Friday, October 11, 2013

Mark Melin, Opalesque Futures Intelligence, Chicago:

AlphaMetrix Group, one of the largest independent alternative investment platforms for hedge funds and managed futures, said it had "encountered significant cash flow issues," according to a letter obtained by Opalesque Managed Futures, written by Aleks Kins, president and CEO of AlphaMetrix yesterday. This was confirmed by multiple commodity trading advisors.

The letter also announced the firing of its Chief Financial Officer, and said the firm had retained the services of the accounting firm of Arthur Bell to "review and assist us in improving our internal controls and recordkeeping procedures."

"In operation of our business, we regularly run intercompany balances between and amongst our affiliates," the letter said. "Our regulated commodity pool operator, AlphaMetrix, LLC (the CPO) is one such affiliate with whom there are intercompany balances. The CPOís assets consist largely of a receivable owed to it by (the) Parent. Parent has recently encountered significant cash flow issues and is working to strengthen its current financial position and its continued operation."

The letter added the CPO had not paid management and incentive fees owed to hedge fund and Commodity Trading Advisor (CTA) .

Chicago-based AlphaMetrix is a technology platform that enables institu......................

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