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Alternative Market Briefing

Weavering suspends redemptions after internal investigation reveals swap with related party as counterparty
Thursday, March 12, 2009

From the Opalesque Team: According to industry sources, the Weavering Macro Fixed Income Fund, managed by Weavering Capital (UK) Limited, is suspending redemptions, in spite of positive performance in 2008.

According to a letter sent to investors, an investigation of the portfolio has revealed a related party transaction in the form of an interest rate swap position of a material amount, where the counterparty is a company controlled by a related party of Weavering.

The letter said that in light of those facts coming to light and given the general illiquidity of the Fund's portfolio, the Directors decided the necessary decision to suspe......................

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