Billionaire Lasry's Avenue Credit Strategies Fund Stops Voluntary Reporting of AUM

scott

http://www.reuters.com/article/us-funds-avenuecapital-assets-idUSKCN0UQ07M20160112

"Research chiefs for Morningstar and Lipper said on Monday they had not received daily asset under management figures from the Avenue Credit Strategies Fund (ACSBX.O) since about mid-December. The fund is not required to report the figures, but not doing so is "very unusual," said Jeff Tjornehoj, head of Americas research for Lipper, a Thomson Reuters unit."

heezsafe

And how about those Bucks!?
http://espn.go.com/nba/team/_/name/mil/milwaukee-bucks

If only there were ways not to report that record.
http://www.jsonline.com/sports/bucks/bucks-owner-marc-lasry-not-panicking-after-slow-start-b99649495z1-364928821.html

LewisBraham

I have a feeling they might be doing this to avoid front running by hedge funds shorting their bonds or looking to buy them on the cheap. An interesting part of the Third Avenue story as opposed to this one was that hedge funds were profiting off the fund's decline, knowing it was suffering massive redemptions and that they would have to sell those illiquid bonds at depressed prices. But I assume if investors don't know how much redemptions your fund has had on a given day, it might be harder to do that. Just a theory.