Homm's Firm in New Dive As Clients Told No ; Market Round-Up

Summary

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SHARES of hedge-fund manager Absolute Capital Management tumbled a further 57p to a new low of 6112p today after the company told clients they could not have their money back.

The company has been forced to suspend some of its funds after finding itself on the receiving end of redemptions totalling $100 million (50 million).

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Homm's Firm in New Dive As Clients Told No ; Market Round-Up

The shares have now fallen 333p during the past two days. It follows this week's resignation of founder and cochief investment officer Florian Homm, who blamed his departure on a disagreement with the rest of the...

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