Tue, Sep 19, 2017
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. Public quant funds aren't always what they seem[more]

    From Bloomberg.com: Quantitative equity strategies are a fast-growing retail product. There is more than $150 billion in quant equity public mutual funds, and such ETFs are on track to top $1 trillion this year. Unfortunately, there's little agreement on what these funds are. The two most common def

  2. Institutions - Canada's pension funds lever up[more]

    From Institutionalinvestor.com: Canadian pension plans are among the most admired institutional investors for their prowess as money managers. Now pension plans in Canada are upping the ante, increasingly issuing long-term bonds and using the borrowed money, or leverage, to try a

  3. Manager Profile - The three quants in their 20s running a hedge fund making $1 billion of trades daily[more]

    From Forbes.com: In an office overlooking downtown Boston, the views are partially obscured by math formulas and technical drawings that have been scribbled on the windows. Wearing a T-shirt with the words "machine earning" printed on it, Luca Lin says the formulas are being developed to help trade

  4. News Briefs - Iron Cove Partners launches hedge fund manuscript management & professional liability insurance policy, Private equity, hedge funds eye bizav financing market. Blue Capital halts ILS fund buy-backs as hurricane Irma approaches[more]

    Iron Cove Partners launches hedge fund manuscript management & professional liability insurance policy Iron Cove Partners, a national insurance brokerage specializing in the needs of the alternative asset management community, today announced the launch of its newest insurance product, th

  5. Asia - Hedge funds used to love shorting China. Now, not so much, Fledgling China FoFs require careful use: NCSSF, Amac, Japanese banks turn to PE, hedge funds for returns[more]

    Hedge funds used to love shorting China. Now, not so much From Bloomberg.com: A sharp devaluation. A credit crisis. And an economic hard landing. That's what some of the biggest names in the hedge fund industry were predicting for China after the nation's stocks and currency tumbled in 2