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SEC Probes Fletcher Asset Hedge Fund, Wall Street Journal Says

Bloomberg – The U.S. Securities and Exchange Commission opened a probe into New York hedge fund Fletcher Asset Management as three Louisiana pension systems raised questions about its liquidity, the Wall Street Journal reported, citing a person familiar with the matter.

The public pension funds are assembling a team to examine Fletcher Asset Management’s books and financial statements after redemptions requests were met with promissory notes instead of cash, the newspaper said today, citing a statement from the pension systems.

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