HedgeCo.net (West Palm Beach) – Golden Hedge Umbrella Sicav has launched a multi-strategy hedge fund and is currently looking for seed investors.

The Golden Hedge Multi-Strategy Fund, Malta domiciled, is the first subfund of the umbrella structure, run by Andreas Koettner and Dr. Bernhard Goetsch, the new hedge find specializes in relative value commodity trading and stock index arbitrage strategies.

Targeting an annualized return of 15% with volatility at 8%.The quantitative strategies are designed to generate returns with low correlation to traditional CTA and hedge fund styles. Inception of trading was in May 2009.

Minimum investment starts at EUR100,000 ($142,000) with monthly liquidity. The auditor is Ernst & Young, prime broker MF Global and fund administrator Valletta Fund Services.

Alex Akesson

Editor for HedgeCo.net
alex@hedgeco.net

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Tags: accredited-investors, annualized-return, arbitrage strategies, commodity trading, cta, fund administrator, hedge fund, hedge funds, index arbitrage, mf global, minimum-investment, palm-beach, prime broker, relative-value, sicav, stock index, strategy-fund, umbrella structure, valletta, west palm beach

New York (HedgeCo.Net) – Two New York residents were charged yesterday by the Commodity Futures Trading Commission after allegedly misappropriating at least $553 million of client’s funds. 

Stephen Walsh of Sands Point, NY and Paul Greenwood of North Salem, NY are being hit with futures fraud in connection with their companies, which include Westridge Capital Management Inc., WG Trading Investors, LP, and WGIA, LLC.

“Defendants treated investor money– some of which came from a public pension fund– as their own piggy bank to lavish themselves with expensive gifts,” said Stephen J. Obie, Acting Director of Enforcement for the CFTC.

According to the complaint, Walsh and Greenwood took approximately $1.3 billion from investors in their entities since 1996.  The men allegedly told their clients that all of the funds would be employed in a single investment strategy of index arbitrage.  

They then doctored false promissory notes to keep up the appearance to investors.  In reality, the funds were transferred to another entity, where Walsh and Greenwood dipped into the cash for personal spending sprees which included horses, residences, and even an $80,000 teddy bear.  It is estimated that they withdrew $160 million total for personal expenses.

The CFTC is seeking a statutory restraining order that will freeze their assets while preserving records.

Julie Scuderi
Senior Editor for HedgeCo.Net
Email: julie@hedgeco.net

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Tags: accredited-investors, capital-management-inc, cftc, commodity futures trading, commodity-futures-trading-commission, expensive gifts, false promissory notes, futures-trading-commission, index arbitrage, investor-money, north salem ny, paul greenwood, personal expenses, preserving records, public pension fund, sands point, sprees, stephen walsh, westridge capital, york residents