Reported about 1 year ago
Segantii Capital Management Ltd., a top hedge fund in Asia, faced downfall after just $1.14 million worth of well-timed trades. This article reveals how insider information was allegedly used to sell shares of an apparel retailer in Hong Kong, causing devastation for the $4.77 billion fund. The case highlights the impact of even small trades relative to assets under management, as Segantii decided to close its hedge fund and return capital to investors after facing initial charges by Hong Kong authorities. The next hearing for the case is scheduled for July 2 in a higher-level court.
Source: YAHOO