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Citigroup ASTA & MAT Fund

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Citigroup Funds Under Investigation

Falcon Strategies Two B LLC Hedge Fund
ASTA Finance Fund (ASTA)
MAT Finance LLC Fund (MAT)

Overview

ASTA/MAT Never Delivered On Citigroup's Promises

When Citigroup first launched its ASTA and MAT hedge funds, investors thought they were putting their money into a relatively low-risk, conservative product. After all, that's what Citigroup's Smith Barney brokerage arm told them. As fixed-income alternatives, the six hedge funds that comprised ASTA/MAT could provide safety and stability - the ideal investment for risk-averse investors looking for tax-protected distributions. A short time later, the funds had lost more than 90% of their value, leaving investors asking what went wrong?

Investors Charge Citigroup With Fraud Over Falcon Hedge Fund

The unspoken code of ethics between investment banks and securities firms and investors continues to be called into question these days. Now it is Citigroup in the spotlight, with investors charging that they were kept in the dark about potential risks in the bank's Falcon Strategies Two B LLC Hedge Fund.

Citigroup Halts Investor Withdrawals

The largest U.S. bank, Citigroup, has barred investors in one of its hedge funds from withdrawing their money. According to a front-page story in the Feb. 15 edition of the Wall Street Journal, Citigroup suspended redemptions in CSO Partners, a hedge fund that specializes in corporate debt.

Citigroup's $2.4 Billion Bonifacius CDO Auctioned

In Latin, the word “Bonifacius” means good fate. Unfortunately the same can't be said for a Citigroup collateralized debt obligation (CDO) that goes by the same name.

Citigroup's Crashing Falcon Strategies Fund Causes Huge Losses for Wachovia and Fifth Third

When the value of Citigroup's Falcon Strategies hedge fund plummeted over 75 percent, banking giants Wachovia Corp. and Fifth Third suffered like many investors—lost hundreds of millions of dollars, thanks to controversial bank-owned life insurance (BOLI) programs. Fifth Third now seeks to recoup its losses through legal action.

Storm Clouds Darken Over Citigroup Hedge Funds

Turmoil in the credit markets has decimated a number of once-successful hedge funds lately. And no one knows this better than Citigroup.

Litigation Over ASTA and MAT 5 Hedge Funds Heats Up For Citigroup

Stricken by the current credit crunch, two of Citigroup's hedge funds, ASTA and MAT 5, have plummeted in value, prompting lawsuits from investors who say they were unaware of the inherent risk in the funds and their aggressive investment strategies.

Citigroup Halts Hedge Fund Withdrawals

Citigroup has barred investors from withdrawing their money from a Citigroup hedge fund named CSO Partners. According to a story by David Enrich in the Wall Street Journal, CSO was closed to withdrawals after investors tried to withdraw 30% of the funds' approximately $500 million in assets. CSO, which specializes in corporate debt, lost 11% last year, requiring Citigroup to inject an additional $100 million into the fund in January to stabilize it.