By Michelle Celarier
Premium Point Investments’ mortgage credit funds are restating their net asset value and halting redemptions in what appears to be the first such subprime-related case since the financial system cratered nearly a decade ago on prior subprime woes.
The once-$2 billion Premium Point, which is known for playing riskier ends of the structured credit spectrum and has more than 27 percent of its Offshore Mortgage Credit Fund in subprime debt, told investors that it has been forced to restate its 2015 NAV, as well as...
