Funds find law risk is one unhedged position
Camulos Capital, a Stamford-based hedge fund with approximately $2bn (£1.3bn) in assets, was one of the lucky ones. In late July, Camulos saw trouble looming on the calendar. Like many of Camulos's peers, the performance of its funds had dropped, and the deadline for year-end redemptions was fast approaching. If too many investors fled - and there was $43bn (£28.6bn) withdrawn from US funds in September - the run on capital could have brought operations to a halt."We saw what was happening in the markets, and we thought that it was a prudent time to lock up the capital," says Michael Iuliano, the fund's general counsel.
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