Morgan Stanley is suing the Lancer Group after a $15.6 million investment with the New York-based hedge fund soured, according to an SEC filing. Morgan Stanley wrote down the value of its investment in the Lancer Partners, L.P. fund to zero after the fund’s manager failed to deliver a number of financial statements, according to Reuters. Lancer Partners cut 1.8 percentage points off the performance of the Morgan Stanley Institutional Fund of Hedge Funds LP fund which slipped 0.3 percent, net of fees, between July and December, 2002, according to the report
Morgan Stanley Sues Lancer Group
Morgan Stanley is suing the Lancer Group after a $15.6 million investment with the New York based hedge fund soured, according to an SEC filing. Morgan Stanley wrote down the value of its investment in the Lancer Partners, L.P. fund
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