The Goldsky Global Alpha Fund seemed too good to be true, what with it claims to have made 24.2% in 2017, becoming both the only person or entity to use the term “perfect year” for those wretched 12 months, and also winning itself a little award. And you know what? The SEC said it was too good to be true!
The scathing allegations from the world’s top securities regulator note that from September 2016 to August 2018, when Goldsky was claiming to manage up to $100 million in assets, but “in fact, (fund management) knew that Goldsky managed no assets during the Relevant Period.” The stunning investment performance claims, as well, were questionable. “In fact, the Goldsky Fund had engaged in no investment activity at all, and had not achieved any investment returns,” the SEC charged.
Well, don’t you worry. Goldsky has an unanswerable rejoinder to those very serious charges: RINGS.
Grace, for his part, claimed the SEC charges were “not factual” and the charges were “unwarranted….”
“The AsiaHedge award is a testament to what we have been able to achieve on behalf of investors, that is ensuring the highest possible returns combined with the lowest risk profile,” Grace said in a February 2018 statement.
No word on whether Grace will simply place his award on the judge’s bench as irrefutable evidence that he is a legitimate machine-learning hedge fund genius and not a charlatan without a Australian dollar to his name. Or will that be awards?
The good news for Goldsky Asset Management is that they are a finalist in the upcoming 2018 AsiaHedge awards gala in Hong Kong, which is sponsored, in part, by Citco, which had previously denied providing services to Goldsky.