Hedge Funds Redemptions

Manzke letter stirs investors to action

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Sandra Manzke, founder of Maxam Capital Management (and previously the chief executive of Tremont Capital Management), is fighting mad. The long-term investor in hedge funds is astounded by the measures they are now taking to protect their skins, often in a manner that she says is detrimental to investors.

Manzke, who vented her frustration on a panel of investors at this week’s Absolute Return Symposium, sent an email to colleagues earlier this week urging investors to form a “Hedge Fund Investors United Forum,” which aims to stand up to objectionable hedge fund behavior by employing shareholder activist-style tactics.