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Company: Fund
Description: Fund Share Partners, a $600 million hedge fund in posh , flipped holdings between its corporate books and the personal accounts of its chief, a controversial move that could put the firm under the microscope of market regulators. At leaset once, Fund general partner, RAM, asked that securities be transferred from two accounts controlled by his fund into his personal account, according to documents obtained by The Post. There was no indication in the documents obtained by The Post that Fund had received any compensation for the shares shifted to Howe’s accounts. A spokesman for fund would not comment on the matter. The 268,390 shares of a collateralized loan obligation – essentially a bond made up of a basket of loans to corporations – later skyrocketed in value. By March 2005, the shares had climbed to about $1000 each from the fund’s initial price of $70 in the previous November, traders said. The steep rise in the bond’s value was the result of a debt-for-equity swap done in one of the basket’s largest holdings: IXC Communications, a trader involved in the security said. - See more at: http://zine.forumbola.org/article.php?id=49203#sthash.HCL4IYIH.dpuf
URL: http://zine.forumbola.org/article.php?id=49203
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