Money managers under the microscope
Crosby Asset Management’s high-profile deal to buy up funds from collapsed asset manager Forsyth Partners in 2007 just looks worse and worse.
This means it will have ended up closing virtually all the funds it bought.
Crosby’s overall assets have now plummeted from $2.5 billion at the end of 2007 to just $500 million at the end of 2008, while the firm has given no indication of what that figure is now.
Crosby have been declining to speak to the press for some time but it is clear that things have got substantially worse.