Mon, Apr 23, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
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 CPO’s 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......................

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. Investing - Sequoia takes Facebook stake as shares slide in data controversy, $1.4b hedge fund sees intact fundamentals for Facebook, Jim Cramer reveals some 'suggested hedge fund trades' amid the Trump tariffs[more]

    Sequoia takes Facebook stake as shares slide in data controversy From Bloomberg.com: The $4.2 billion Sequoia Fund bought a small position in Facebook Inc. as the stock slid late in the first quarter, investment manager Ruane, Cunniff & Goldfarb told clients. "The recent controversy enab

  2. Activist Investors - Blue Sky-owned Wild Breads faces uncertain future[more]

    From AFR.com: A Blue Sky private equity investment in artisan-style baker Wild Breads enjoyed multiple valuation upgrades despite losing millions and breaching its lending covenants, accounts lodged with the regulator last week show. Wild Breads lost $2.4 million in 2017, but Blue Sky ascribed a hig

  3. Opalesque Exclusive: Barnegat to close hedge fund to outside investors on weak opportunities[more]

    Komfie Manalo, Opalesque Asia: Bob Treue's Barnegat Fund Management said it is closing its $666m fixed income relative value hedge fund to outside investors. "The negative side to gains in Fixed Income Arbitrage is that unless we find new opportunit

  4. Investing - Hedge fund makes a big bet on malls, British hedge fund manager Odey short UK government bonds on QE bet[more]

    Hedge fund makes a big bet on malls From Barrons.com: The dominant narrative on American shopping malls is that they're dead. Crushed by Amazon.com, many brick-and-mortar retail stores are destined for bankruptcy. And where is the most retail, clustered all together? Malls. From a

  5. Performance - Hedge funds suffer first back-to-back loss in two years, Netflix performance burns hedge fund short sellers, Macro hedge fund up 14.5% in first quarter sees dollar falling, Renaissance Technologies rebounds across hedge funds in March[more]

    Hedge funds suffer first back-to-back loss in two years From Bloomberg.com: Hedge Fund returns sank for a second straight month in March, the first back-to-back loss since the first two months of 2016, as trade wars, tech-sector woes and a Fed rate hike dragged down the S&P 500 from its