Launches & Closures Funds of Hedge Funds

Reichmuth Matterhorn to liquidate flagship fund as it plans to create a replacement


Swiss firm Reichmuth Matterhorn has announced plans to create a new fund of hedge funds for qualified investors, after it was prevented from creating a side pocket to liquidate investors.

For current investors this means that redemption payments from the current fund are temporarily postponed as the new entity is established.

Officials of the firm, which announced a $350 million exposure to Madoff last year, plan to pay back 50% of the fund's total assets in April and on a quarterly basis after that. The final payment to investors is