Wed, Aug 24, 2016
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. Opalesque Exclusive: Algorithms platform aims to target typical challenges found in quantitative hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Last month, Quantopian received investments from Point72 Ventures, the new venture capital arm of Steven Cohen’s Point72 Asset Management.

  2. LatAm hedge funds surge in 1H to +24.4%, emerging markets assets rise[more]

    Komfie Manalo, Opalesque Asia: Hedge funds investing in Latin America posted strong gains through mid-2016, reversing declines in four of the past five years, including the last three years, to lead all areas of hedge fund performance through the first half of 2016, according to the latest HFR Em

  3. Opalesque Roundtable: Low and high fee investments often better than mid fee hedge funds[more]

    Komfie Manalo, Opalesque Asia: Hedge funds that charge the low and high fees stuff often provide better returns than "those sort of mid-fee investments", said Keith Haydon, chief investment officer of Man FRM. (Alternative) investment managers who charge high fees would often provide the most int

  4. Hedge fund investors pull $5.7 billion in July[more]

    From Bloomberg.com: Hedge funds suffered a third consecutive month of outflows in July as investors withdrew $5.7 billion, according to industry tracker Eurekahedge. Redemptions totaled $20.7 billion in the three months through July, with money managers betting on equities suffering $18.4 bill

  5. …And Finally - Police contact Catholic Church after baffling ‘poltergeist’ report[more]

    From Telegraph.co.uk: Police officers in Scotland have called in representatives from the Catholic Church after investigating reports of “disturbing incidents” of a "poltergeist" at a family home. A mother and her teenage son were said to be “extremely distressed” after experiencing what the D