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Article: Checks And Balances; Hedge fund of funds are going to have to regain the trust of investors following their exposure to Madoff.(Bernie Madoff)
- Article from:
- Investment Dealers' Digest
- Article date:
- January 5, 2009
- Author:
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Byline: Gerelyn Terzo
The hedge fund industry has never been known for its transparency, but as long as returns were stellar investors didn't quite seem to mind. Bernie Madoff, the infamous mastermind behind the alleged Ponzi scheme that cost the industry an estimated $50 billion, has changed that, and the disclosure pendulum is swinging in the opposite direction. There is arguably no group that will be more affected by this demand for more disclosure than the hedge fund of funds segment of the market.
Fairfield Greenwich Group and Tremont Group Holdings, both hedge fund of funds, had billions of dollars invested with Madoff. Fairfield Greenwich's ...