Quadriga to drop hedge fund title

Quadriga, the Austrian alternative investment firm, will no longer be able to describe its Quadriga Superfund as a hedge fund, after the Securities and Exchange Commission (SEC) objected to its use of the term.

In October, the SEC, the US regulator, gave the green light for the firm to market the fund, which has a minimum investment of just $5,000 (£4,638), in the US.

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