Weavering boss jailed for 13 years

Prison Bars

The former boss of failed hedge fund Weavering, the collapse of which cost investors $536 million (356.91 million pounds), was sent to jail for 13 years on Friday, one of the longest for fraud in Britain.

Top hedge fund has a big year

Hedge Fund

In a year where many hedge funds posted unimpressive returns, Citadel, the Chicago money-management giant known for its swift movement and out-of-stock positions, generated more than 23 percent returns in its equity hedge fund and almost 18 percent in its multi-strategy flagship funds, Kensington and Wellington, according to someone who reviewed the numbers.