FSA raids UK asset manager

FN – A spokeswoman for the FSA said: “The FSA can confirm that this morning it executed search warrants on two premises in London and one in Chichester. The FSA’s regulatory investigation is on-going.” She declined to comment further.

The firm also has offices in New York, Hong Kong, Singapore, South Africa and the British Virgin Islands. Castlestone sells funds investing in commodities, equities, property, asset allocation strategies and funds of hedge funds. It offers them to retail investors through fund supermarkets and life assurance companies.

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