Current news for this fund:
Polygon - activist
Count of distinct funds: 1
Today we must regretfully continue the preponderance of ailing 'p'-named hedge funds (e.g. Plexus, Pardus, Platinum...) with Polygon.
Skittish over market turmoil and a 4% loss so far this year, the activist funds' investors have lined up for withdrawal. Polygon had established a "stacked gate" system for this—which would allow only a limited number of investors out at once, and require the rest to wait. But the hedge fund wisely realized that this system would simply encourage investors to put their requests in early, so as not to be stuck at the back of the queue. They've abandoned that plan in favor of offering a new class of shares "without any gate".
It should be interesting to see how popular this option proves to be. If most investors opt out anyway, then they must be worried about performance (and market conditions) more than about a run on the fund.
We will endeavor to keep you posted.
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Important: This fund is on our list of hedge funds that are apparently ailing or which we think are worth watching for any other reason. Ailing funds haven't shut down, but they've suffered significant value declines and/or temporarily halted redemptions. Funds on watch may not even have unusual declines, but may be posted if it is felt there may be risk of developing a more serious condition eventually.