2007-11-02 — hf-implode.com
This tip was sent in to us anonymously this evening and is apparently a forwarded email (this is all unconfirmed). It reports massive losses to Shooter's Multi Strategy Fund Limited in the month of October:
Shooter multi strategy fund October update Shooter Multi Strategy Fund net October 2007 performance* USD share class: - 28.62% NAV: 1,022.09 YTD: - 24.48% USD C share class: -28.62% NAV: 782.84 Euro share class: - 28.71% NAV: 981.61 YTD: -25.14% Euro C share class: - 28.71% NAV: 777.43 Given the large loss to the fund this month I have been trying to reach all of you by phone directly. Given the number of investors we have this has proved difficult and so I wish to update you now that the Shooter Multi Strategy Fund Limited has a loss for October 2007 of 28.62% in the USD share class and a loss of 28.71% in the Euro share class. I will be in contact with all of you by phone as soon as possible to discuss what has occurred, where we are now and our plans for the future. ___________________ David Beddington Shooter Fund Management Unit 206 Business Design Centre 52 Upper Street London N1 0QH +44 (0)207 704 7724
Shooter's web site describes the fund thusly:
The Shooter Multi Strategy Fund Limited, launched November 1st 2004, is a relative value fund seeking to generate consistent absolute returns in a range of market conditions. Historically the firm has traded in equity (US and Europe), FX and interest rate markets (G10) with a sizeable allocation to equity volatility and quantitative strategies.
We're unsure of the size of the fund.
They also have a second fund, the "Shooter Bear Fund Limited", which we can only assume is doing fine, but who knows.
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