Hedge Funds

Trading suspended in Highbridge fund hit by conversion error

Euroclear forces action a day after it emerged a currency conversion error had resulted in too many shares being issued in the former BlueCrest fund

Trading suspended in Highbridge fund hit by conversion error
Photo: iStockPhoto

Trading in shares of a London-listed hedge fund run by Highbridge Capital Management has been suspended, a day after it emerged a currency conversion error had resulted in too many shares in the fund being issued.

The Highbridge Multi-Strategy Fund, which took on assets from BlueCrest Capital Management's $1.1 billion listed AllBlue hedge fund in February, revealed the error in a stock market announcement on March 7.

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