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Hedge Funds and their illiquid assets

In the post-Madoff climate, funds are unders the microscope.  Not only are returns being scrutinized and risk reporting is becoming more important to the investor,  but investors are also starting to question asset valuation amid allegations that funds like Southridge Capital, Plainfield Asset Management and Palisades are charging sham management fees on illiquid assets that are being overvalued.

To make matters worse, some funds who have been accused of overvaluing their assets are the same funds who are gating investor money and not permitting redemptions!