And all these platforms are based in LondonMany shares runwaysShares runways are manyThe unlikely coalition lasted for four monthsLast Thursday Xiao Yu commissioned his seventh credit cardBercy spends 25 investigators on the caseVaira VikeFreiberga President of Latvia also jumped into the raceFirst facet of the character the EconomistThe Germany also made statements to this effectThe first is the socialization of the cost of careVoices for propose us various solutions to avoid a new April 21Would it have been possible to guess, based on their characteristics, what funds of funds were the most likely to invest in the financial products and swindler Bernard Madoff before broke this scandal For the first time, a study () George a. Martin, the Isenberg School of Management at the University of Massachusetts, responds to this central question. If the funds of funds or multigérants (funds that invest in several "hedge funds" to be a portfolio) who invested with Bernard Madoff have some characteristics that differentiate them from those who have not done, "quantitative characteristics (risk, performance...). and qualitative are not sufficient to determine accurate, certain that they were prone to put their money with Madoff, says the researcher. This suggests that there are other explanatory factors at work. 
To find them, investors have no alternative but to focus closely on the procedures of "due diligence" of their multigérants. These are all measures of research and control of information funds of funds base their judgment on the activity and the financial position of a Manager in which they want to put their money. In some anecdotal cases, it is also the leader of the society of multi-management happened in addition to his Committee reserves to decide to invest in Madoff. Should reflect on the true autonomy for the team in charge of the "due diligence". In this area, some private banks have shown the finger for their little rigorous procedures. Indeed, the Switzerland paid a high price with 77 of its Fund of funds affected by Madoff, 22.7 of the 339 funds of funds affected around the world by this scandal (see below). American multigérants accounted for 23.3 of the number of victims and the British 15.3. With 27 affected products, the Italy had not been spared, just as surprisingly more, Brazil (25 funds of funds) and Germany (24). Two Chinese funds and 8 Norwegians were also made to the trap. The France not that a victim identified in the multi-management, since the study panel is restricted to companies with at least $ 50 million of assets and funds of funds have at least two years of seniority. In France, are mostly small companies who have been affected. In total, with 1 Fund of funds on 3 affected by Madoff, Brazilian and Italian markets are in proportion, most concerned. They are followed by the Switzerland (1 of 4), and then Great Britain and the United States, whose 1 multigérant 10 has succumbed to the sirens of the attractive yields promised by the financial.
Father of family placement
Their counterparts who have not invested in Madoff funds of funds that have placed their money in the latter were a little more important in terms of assets under management. They also had slightly less high yields, 8.7 against 9.3 in 2007. They were also less volatile. "Bernie" Madoff had also sold its strategy as a father of family placement and "tinkered" figures accordingly. However, all these differences (performance, Sharpe ratio, "alpha" of the funds) are fairly Dim. However, in 2008, the main reason for having stopped to issue regular reports account for their performance ("reporting") to their clients was to have invested in Madoff. Bad publicity to an already pretty tough period like this.