NBR: Ross shutdown unexpected, and still unexplained

Before Ross Asset Management went into receivership this week, it was regarded as a prosperous fund in the hands of highly capable manager David Ross.

But some 20 years of reportedly high returns – more than 37% in the mid-1990s – came to an abrupt end on Friday November 2 when the Financial Markets Authority raided RAM’s office and had its assets frozen.

The circumstances surrounding the situation remain murky.

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