|
|
Opalesque Exclusive: Why Forsyth failed
An industry source told Opalesque that "our group was very keen on making a bid for the fund management activities, but found the group structure excessively laden with costs and very complex. Had we had more time, we could have prepared a rescue attempt with our investment banking colleagues at (...) – but there was just not enough time. They have a good team of wonderful people..."
Rupert Neil Bumfrey, a Dubai based investment professional, said Forsyth's fall was at partially caused by succumbing to the "Dubai highlife life style"....(whatever that is...): "(This) story gives me great heartache, as I introduced Forsyth’s to GCC & CIS from 1999-2002. I resigned when I realised the glitter of Dubai had seduced senior management, with no concern for shareholders! "
UK FSA suspends Forsysth license, funds `OK`
From Bloomberg.com: Forsyth Partners Ltd., a fund of funds manager that oversees $1.2 billion, has been placed in administration and suspended its funds. Grant Thornton U.K. LLP has been appointed as an administrator and plans to sell the business as a going concern, Forsyth said in a Regulatory News Service statement today. The administrator expects to find a buyer in the next two days, according to the statement. The move wasn't related to global market turmoil, Grant Thornton administrator Steve Akers said.
Forsyth ``overstretched itself'' by setting up offices in the Middle East and As...................... To view our full article Click here
|
|
RSS
