Fund Of Funds Dirty Laundry: Get It While It's Hot

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We maintain that we have the best readers in all of financial tabloidom. Really. Today, a little bird slipped us some more Fairfield Greenwich Group documents. Of particular note are the tearsheet packages, which have summary results for what looks to be nearly all of the major Fairfield funds. Interestingly, there are a number of single manager funds.
We must admit to having been completely ignorant, for instance, of the Fairfield Icahn Fund, Ltd. ("Mr. Icahn's view is that management of companies are frequently not properly incentivised to increase shareholder value. Mr. Icahn encourages management to take the appropriate actions that he believes will increase value.") and Fairfield Renaissance ("The Fairfield Renaissance Institutional Equities FundLtd. is a quantitative computer model-driven fund based on the same technology developed by Renaissance Technologies Corp. for their Medallion Fund; this fund was launched in1989 and is now closed to outside investors.")
Of course you will be most interested in Fairfield Sentry. ("The "split strike conversion" strategy is implemented by Bernard L. Madoff Investment Securities LLC ("BLM"), a broker-dealer registered with the Securities and Exchange Commission, through accounts maintained by the Fund at that firm. The services of BLM and its personnel are essential to the continued operation of the Fund, and its profitability, if any. The Investment Manager, in its sole and exclusive discretion, may allocate a portionof the Fund's assets (never to exceed, in the aggregate, 5% of the Fund's Net Asset Value, measured at the time of investment) to alternative investment opportunities other than its "split strike conversion" investments.")