Guernsey investment manager Corazon Capital stands to lose millions following the collapse of a leading hedge fund, according to reports.
Corazon Capital holds the $500m Weavering Macro Fixed Income fund, which went into liquidation on 19 March, in a number of client portfolios and funds. Its total exposure accounts to just below 3% of client assets. The Times reports suggestions of fraudulent activity are being investigated. If the UK's Serious Fraud Office (SFO) and the FSA did start an investigation into the fund and the firm, Corazon Capital could be the first Guernsey-based organisation to be caught out by alleged global fraud to such a large extent, says a local Guernsey paper. It appears interest rate swap transact...
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