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Premium Point Suspends Redemptions, Will Restate NAV
The once $2 billion firm, founded by former Deutsche Bank RMBS chief Anilesh Ahuja, once generated double-digit gains in mortgage securities but said increased volatility and widening spreads may have led to improper valuation of securities starting last year.
By Michelle CelarierPremium 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
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