This Week In Fund Redemption Request Halting

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Wharton Asset Management, a London-based hedge fund with $10 billion under management, halted redemption requests on its Y2K Finance fund.
WhAM woke up before investors wanted to go-go, and decided to leave them hanging on like a yo-yo, at least until December. WhAM will also stop calculating net asset value so investors won’t miss the fact that they didn’t back out before WhAM hit that high.
WhAM was one of the first hedge funds to go solo when it came to investing in mortgage and asset-backed securities in the mid-90s.
Wharton Halts Redemptions at Flagship Fund [DealBook]

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