The Final Margin Call?
It seems as if the SocGen driven liquidation on January 18, managed to take out the remains of what once was Kullberg & Spiik (the Explora and Edge funds was closed down by the Swedish FSA one and half year ago). It is reported that a couple of the investment clubs managed by one the managers suffered losses on that day and had to liquidate positions at a significant loss. DI reports a 50% loss.
It is also reported that Mr. Spiik has gone underground and is hard to reach. The webpage seems to be mostly empty. One investor is also reported to have filed a complaint against the manager.
Labels: Hedge Funds Sweden

<< Home