Hedge Fund Two Sigma Is Hit by Buying and selling Scandal

A researcher at Two Sigma Investments adjusted the hedge fund’s investing fashions with out authorization, the agency has instructed shoppers, resulting in losses in some funds, huge beneficial properties in others and recent regulatory scrutiny.

The researcher, Jian Wu, a senior vp at New York-based Two Sigma, was making an attempt to spice up his compensation, Two Sigma has instructed shoppers, with out figuring out Wu. He made modifications over the previous 12 months that resulted in a complete of $620 million in sudden beneficial properties and losses, based on folks near the matter and investor letters. Two Sigma has positioned Wu on administrative depart.