(This story had the dubious honour of being parodied by Michael Fowke's 'Money Is The Way' blog, which reads a bit like Ezra Pound channeling Jim Cramer.)
By Lionel Laurent
PARIS, April 13 (Reuters) - A $110 million hedge-fund portfolio part-advised by BNP Paribas subsidiary Fauchier Partners is to impose tougher rules on cash withdrawals by investors, after a volatile month for the hedge-fund industry.
The Fidam fund, whose main investment advisor is Cayman Islands-based Fides, will require three months' notice for redemptions instead of one from April 30, according to a letter seen by Reuters.
"The redemption notice period...will be extended to three months plus six calendar days prior to the relevant valuation day," Fidam's board wrote on March 30.
"The notice period may be waived at the discretion of the board of directors provided the relevant sub-fund has sufficient liquid assets to accommodate the redemptions and a fair treatment of all investors is assured."
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