Polygon, the London hedge fund, has introduced special measures to cope with the large number of investors who have asked to withdraw their money, reports the Daily Telegraph. The $8bn fund, which has in recent weeks been hit by redemptions, on Wednesday told investors they would not be stopped from redeeming their funds and has proposed a new system. Under the fund’s existing rules, which involve a so-called “stacked gate” system, only a certain number of Polygon investors can redeem at once. The fund is offering investors the chance to move to a new class of shares that will not have any gate, said Paddy Dear, co-founder.

This entry was posted by Gwen Robinson on Thursday, April 3rd, 2008 at 5:46 and is filed under Capital markets, Hedge funds. Tagged with polygon. Edit this entry.