Moore Capital Management has relaxed the liquidity terms of two of its offerings - Moore Global Fixed Income Fund and Moore Emerging Markets Fund - with an eye toward raising more capital, investors say.
Both funds have moved to a one-year lockup from a three-year lock followed by quarterly redemptions. All investments in shares with a three-year lock will be changed retroactively to reflect the new redemption terms. Meanwhile, Moore Credit Fund will move to semi-annual liquidity with 90 days notice and a 25% gate.
Moore Global Fixed Income and Moore Emerging Markets got hit hard in the spring of