Current news for this fund:
Austin Capital Management - Safe Harbor Fund - ?
Count of distinct funds: 1
Keycorp's subsidiary (purchased in 2006) Austin Capital Management's Safe Harbor Fund is being shut down due to Madoff-linked losses. Reuters has that the fund lost at least $186 million to the notorious Ponzi scheme.
Details are sketchy, so let us know if you have more detailed info.
At any rate, we can't help but wonder if Key is now regreting their ill-timed foray in to the hedge fund world.
Comments: Be the first to add a comment
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.