View all newsletters
Have the short, sharp Spear's newsletter delivered to your inbox each week
  1. Wealth
June 3, 2009

Reuters: Lombard to liquidate two funds of funds

By Spear's

ZURICH, June 2 (Reuters) – Swiss private bank Lombard Odier Darier Hentsch & Cie confirmed it would liquidate its Delta Global and Alternative Strategies funds of hedge funds, but said on Tuesday it would launch two new funds.

ZURICH, June 2 (Reuters) – Swiss private bank Lombard Odier Darier Hentsch & Cie confirmed it would liquidate its Delta Global and Alternative Strategies funds of hedge funds, but said on Tuesday it would launch two new funds.

The bank has, like most peers, seen redemptions and asset value reductions during the financial crisis, but it said in response to a SonntagsZeitung report at the weekend it had enough liquidity to meet current redemption requests.

Lombard Odier co-head of hedge funds Cedric Kohler said liquidation would enable the bank “to create the economic equivalent of side pockets and to restructure our product range by launching new products at the end of June”.

A side pocket is used by hedge funds to hold illiquid assets and keep them separate from liquid ones. This can help funds avoid having to sell illiquid assets at inopportune times.

To read the full story, visit reuters.com
 

Content from our partners
Why a patient-first approach is key in healthcare
Abu Dhabi: How the 'capital of capital' became a magnet for UHNWs
Abu Dhabi Finance Week in the 'Capital of Capital'

Select and enter your email address The short, sharp email newsletter from Spear’s
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network