Word: tremont
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Many of Madoff's clients invested in his funds through a number of feeder funds, which were sold by other firms. Like supermarket brands, the funds carried the name of the investment-adviser firm, which then sent the money to Madoff to be managed. One such fund, the Tremont Broad Market Fund, attracted billions of dollars to Madoff. Many of these funds leveraged their own investment in Madoff's funds, which could amplify the losses felt by the collapse of Madoff's firm. (See the top 10 worst business deals...
Another Madoff feeder fund was run by Maxam Capital. The head of that firm, Sandra Manzke, a former head of Tremont, has recently been outspoken about misbehavior in the hedge-fund industry. She recently sent a letter out to hundreds of hedge funds berating them for their large fees and for halting client redemptions when funds were down. "I am appalled and disgusted by the activities of a number of hedge-fund managers," she wrote in late November...
Many who know Madoff say they are surprised by the revelations. "Many of the assets he took were from friends and family," says a former Tremont official. "It is almost inexplicable. Even the people I have talked to who have had long relationships with him are shell-shocked...
Surrounded by handmade hot-pink signs with slogans like “Blogette Power” and “Boston McLovin McCain,” the senator’s 24-year-old daughter greeted the crowd that had gathered in front of the campaign’s Tremont Street headquarters to meet...
...hurt either. Regatta Bar, the Charles Hotel. Saturday, 10 p.m. $12 Ready, Set, Go! Harvard dating scene got you down? Then the April Speed Social/Mixer is the place for you. Get outside the Harvard dating bubble for some stress-free speed dating at Lounge Aria. 246 Tremont St., Boston. Friday, 8 p.m. Free Cambridge Science Festival Get outside and head over to MIT Museum to check out the Cambridge Science Festival. Tons of free activities and exhibits all day long including “Bioart” self-portraits, “The Secret Life of Nature...