Hedge fund managers each receive $ 111 M fine

Cayman Islands Grand Court fines two hedge funds managers 111 million dollars each for their role in the collapse of their companies.

Stefan Peterson and his Ekstr?m by the now defunct London-based hedge fund Weavering Capital, which also had a Cayman Islands office, was found guilty by the Court of "wilful neglect or default in performance of their duties", reported the HFM week.

Losses incurred by the company are superseded by the company, however, the Court had substantial evidence that the couple avoided their professional duties.

Before the company closed 2009 for only 90 million dollars of 223 million dollars in the request for redemption, had Weavering 639 million USD in assets under management by HFM week.

Go to HFM week article

Hedge fund managers raise $ 28 M Kids ' charity

Hedge fund managers, British royalty, elite backers and celebrities gathered at the international children's charity absolute return for Kids (ARK) Thursday for a charity dinner.

Representing the hedge fund industry was ARK President Ian Wace Marshall Wace and ARK Foundation President Arpad Busson EMI Group.

The Duke and Duchess of Cambridge was also present, speaking on behalf of Prince William and Prince Harry, the Foundation's behalf.

After a tough time for hedge funds and fundraising campaign 2009 participants came out in full force, putting down over 16 000 $ per plate.

ARK's gala dinner served to raise 28 million dollars for SHEET applications.

ARK has pledged 1.6 million dollars for the treatment of root avi rus, which causes serious diarrhoea and can be fatal for children and infants. U.K. Government committed match funds for SHEET treatment programme in Zambia.

ARK also raised funds for the health of mothers and newborn babies programme in Zimbabwe.

Arpad Busson began in 2002, the ARK.

Over the past nine years, more than 200,000 children benefited from ARK program, according to a release.