More North Sound stuff on...

More North Sound stuff on Afplats
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The counter argument is that North Sound is acting in its own interests which are not those of all Afplats shareholders.

One allegation is that the hedge fund has underperformed during the past 12 months and needs to show some short-term gains to improve its track record.

An article posted on the Dow Jones Marketwatch.com website on December 5 quoted from a letter to investors written by North Sound founder Thomas McAuley in which McAuley laid out a new strategy to revive the hedge fund’s performance. McAuley said North Sound’s total assets would fall to $1.4bn in January.

Marketwatch.com quoted other sources putting the fund’s total assets at around $3bn in 2005.

The reason for the drop is not explained, but sources indicate it results from two major investors withdrawing their money from North Sound to invest elsewhere.

According to Marketwatch.com, McAuley attributed North Sound’s underperformance to the fact that it had not invested enough money in its best ideas. The plan for this year is to generate fewer, but stronger, investment ideas.
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Given North Sound have stayed in Aim one could assume Aim is one of those "fewer" ideas.If the case NS WILL want to see the MAXIMUM return from Aim imho.Is it any wonder they are starting to screw this company to the ground in terms of where and how the monies are going and how the company approaches raises the rest of the finance.

d.