As an alternative, the fund is offering investors the opportunity to move to a new class of shares that will not have a gate, say the reports.
Calls to Paragon were not returned.
It’s not a new strategy. Ritchie Capital tried to apply a move to a new class of shares to slow its redemptions and appease investors when it was facing substantial losses in some of its funds. "Polygon might well not be in the dire straits that Ritchie Capital was in but changes in redemption strategy on the back of even small losses cause panic among investors, and create a vicious cycle...
