Sun, Jul 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: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe