Current news for this fund:
Pirate Capital (Activist Funds) - Equities Activist
Count of distinct funds: 2
(This is a retroactive addition on October 2, 2007). Not much more to say than the key portion of the Sept 11. Bloomberg article above:
As the article points out, Pirate's assets under management have fallen from about $1.8 billion at the peak a year ago, to about $375 million now. The activist funds have fallen from about $150 million to less than $100 million. The Sept. 13 Bloomberg article points out that the declines in the activist funds had been in the 17-19% range, year to date through July. Interestingly, with the exception of Aquila, all of the main activist stocks are lower since that time. So it appears the withdrawal suspensions have not done much (yet?).
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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.