The wise men have also fleshed out the details of a euro-area redemption fund that they had proposed earlier.
Or maybe Germany will sign up, after all, to some variation of the "Redemption Fund" proposal from Germany's own "wise men", which would involve guaranteeing only a proportion of each government's debt, for a finite period of time.
Bank of America Merrill Lynch has provided a new committed facility to fund the bond redemption, the company said.
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People familiar with the matter cautioned that hedge-fund clients still can adjust redemption requests ahead of the Monday deadline.
The SuperTrust structure had share creation and redemption characteristics of an open-end fund and the trading flexibility of a stock.
Nevertheless, several people in the hedge fund business say there is no huge redemption wave hitting the industry and, by and large, big institutional investors have elected to remain heavily invested in hedge funds for 2013.
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Similar to a contract for difference (CFD), this would allow existing Exante customers to trade in and out for Bitcoin Fund shares without going through the subscription or redemption process.
The fund sold assets in June to raise money to meet redemption requests and margin calls, but couldn't raise enough cash to do so.
It was brought on behalf of a 73-year-old investor in a hedge fund that the firm closed in June after heavy margin calls and redemption requests.
They assumed that all hedge fund vehicles would provide absolute returns regardless of market conditions, that they were completely transparent if the fund manager said so, and they would provide liquidity if a redemption was met.
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In connection with investor redemption requests it could not meet in 2008, Yorkville Advisors restructured its hedge fund operations, creating special purpose vehicles and giving redeeming investors the option of receiving securities in-kind or ownership in the SPVs.
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Therefore one can see why hedge-fund investors may be looking elsewhere: If the hedge funds are selling in order to meet redemption requests, it could explain the recent action.
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With this approach, the ETF fund manager can purge the lowest basis stocks via in-kind stock transfers through the creation and redemption process.
Redemption fees have some merit as they are often designed to stop traders from moving in and out of the fund attempting to make a quick speculation profit.
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