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Alternative Market Briefing

van Eyk investors still to collect $20m from collapsed hedge fund and research firm

Monday, February 02, 2015

Komfie Manalo, Opalesque Asia:

Retail investors of the Sydney-based research and funds management house van Eyk are still awaiting for their $20m exposure from the collapsed hedge fund firm three months after its liquidation, said The Australian.

The report cited an unnamed source who revealed that 10 of the 14 Blueprint funds managed by van Eyk have been fully refunded except for the four funds after encountering liquidity issues in August. Investors of the four remaining Blueprint funds were mostly retail investors who have saved for their retirement.

Trent Hancock of Moore Stephens Corporate Recovery, the appointed liquidator of van Eyk, called for the liquidation of the financial services and research house in October last year, telling its investors it would be in their best interest to wind up van Eyk and assured them he would conduct a thorough probe into the company’s past transactions.

In his initial report, Hancock said van Eyk’s problem began when Macquarie terminated the company as fund manager of its Blueprint series in August and September.

In September, van Eyk initiated legal action against Artefact Partners as another nine of its 'Blueprint’ funds ......................

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