This month saw the end of the three year lock-in period for SRM Global, the fund managed by former UBS trader Jon Wood.
Despite a stellar track record at UBS, which enabled him to attract assets of around $3 billion at launch, Wood sustained extremely heavy losses in the hedge fund. An SEC filing from July 2009 showed the fund had assets of around $140 million.
The fund has performed better this year with a gain of around 160% year to date.
While it is understood that many investors have redeemed it is thought that others, having written their holdings down