A live music festival generated headlines for irregularities, including financial losses before the event even took place. finews.com reveals Ruvercap Investment’s involvement.
While an Austrian asset manager ascertains alleged losses for investors of Ruvercap Investment, a worrying picture of the Zurich-based fund’s allocation strategy is emerging: insolvent companies in Serbia, a bank in Bosnia, alleged luxury hotels in the Balkans, and a fertilizer supplier in South Africa.
Ruvercap’s investments frequently represented high-risk financing objects; Graubuendner Kantonalbank plowed more than 70 million Swiss francs in (the association cost director Thomas Huber his job last week, as finews.com reported).
At the same time, Ruvercap Investment presented the private debt funds as a vehicle with «investment grade protection,» according to documents seen by finews.com. It invested…