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From an investor letter received by Opalesque: “The Sandringham Fund & Sandringham Long/Short Fund II, each investing in Sandringham Fund SPC Ltd (the “Fund”).

We regret to announce that we have recommended to the Directors of the Fund that they suspend calculation of the Net Asset Value of the Fund and redemptions with immediate effect.

While it is extremely disappointing for all concerned that we have had to take this step, we believe it to be in the best interests of all investors, both those which had sought to redeem units/shares on 1st February 2007 as well as those continuing with the Fund.

The reasons for the poor performance of the Fund last year have been well documented in our newsletters. Sadly as a result of this poor performance, the Fund's assets have fallen significantly and there has been a high level of redemptions. These redemptions have come from investors who have been unable to accommodate the extreme volatility within their portfolios, as well as from fund-of-fund investors who have had their own redemption pressures and have been left with no alternative than to withdraw from funds wherever they were able. Full investor letter: Source

$1bln Red Kite fund to extend redemption notice period after 15% loss in January From MarketWatch.com: Red Kite Management, a $1 billion metals trading hedge fund, wants to extend the notice period for investor r......................

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