Current news for this fund:
Wyser-Pratte Eurovalue - mid-sized european companies
2008-10-01
Count of distinct funds: 1
Capital base: $500mm
Loss: 18% or more?
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stories: ft.com
The Financial Times has reported that Wyser-Pratte Eurovalue has suspended withdrawals as of Tuesday, September 30. Per the article:
Mr Wyser-Pratte said he was blocking withdrawals to protect investors.
"I have come through '68, '72, '86, '87, '98 and 2002," he told the Financial Times. "But this is the worst and one has to act prudently in times like this. It is batten-down-the-hatches time.
"Who could think of a more calamitous environment and a more opportune time to do something like this to protect non- redeeming shareholders [in the funds] and prevent redeeming shareholders shooting themselves in the foot?"
Though the fund manager, Guy Wyser-Pratte, could not (or would not) confirm it to FT.com, data suggests that his fund "had fallen 18 per cent from the end of June to the start of last month" (September).
If you have further details regarding the Wyser-Pratte Eurovalue fund, please comment below or email us!
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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.