Boutique hybrid debt-equity firm Pure Asset Management invested in riskier micro-cap companies allegedly contravening the investment strategy for its $95 million small-cap fund, according to an independent report commissioned by incensed investors.
The review, conducted by advisory firm KordaMentha, was commissioned in November after this column revealed Pure Asset Management’s income and growth fund had paused redemptions for almost a year – preventing investors from tapping out of the investment.
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