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Anti-Capitalist Group Targets Hedge Fund Industry

May 22, 2013
Jing Chen

Several London-based hedge funds have been the target of an anti-capitalist group.

Financial Times reported that the group, Stop G8, has accused big-name firms such as Man Group and Brevan Howard of “insider-dealing scandals, profiteering from the financial crisis and the short selling of state-owned companies.”

A total of 17 hedge fund firms were named in the “action map.”

One targeted hedge fund firm told Financial Times that his firm is “aware of [the potential protests] and is on top of it,” while another warned employees “not to dress like a hedge fund manager” to and from work on the day of the protest.

Stop G8 has singled out the hedge fund industry, claiming that it “specializes” in risk taking and secrecy while feeding off “blood money” generated by speculation on war, food and debt.

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