Anthony Inder-Rieden

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Anthony Inder-Rieden is a Dutch financial advisor and hedge fund manager. He currently serves as the Managing Director at Euro-Dutch Trust Company Limited, a Bahamian licensed trust company since 1975.

Personal life[edit]

Mr. Inder-Rieden received a law degree from the University of Leyden in the Netherlands. He is an experienced mountaineer as well as a collector of 17th century Dutch art. His collection of imperial Chinese porcelain was recently sold by Bonham's Auction House in London.[1]

Business[edit]

After graduating from law school, Anthony went on to become the Managing Director of Curaçao International Trust Company (Citco) from 1967 - 1973. Early successes at Citco propelled him deeper into the world of high finance where he returned after a brief, two-year stint serving as legal counsel to Property Resources, Ltd., a Bahamian real estate investment firm.[2]

Mr. Inder-Rieden is currently a Trustee, Chairman and Chief Executive Officer at GEM Global Equities Management SA. In addition, he still serves in his capacity as Managing Director at Euro-Dutch Trust Company Limited.[2]

In 2003 four funds managed by Inder-Rieden’s Global Equities Management SA were listed on the nascent Bahamas International Securities Exchange (BISX). The funds included Opportunities Fund Ltd., the Ukraine Value Opportunities Fund Ltd., the Post Communist Opportunities Fund Ltd. and the successful Gazinvest Fund.[3] Mr. Inder-Rieden is quoted as saying about the listing:

“We decided to undertake this listing in The Bahamas primarily to provide more market exposure for these funds. Many potential investors are also looking for the increased transparency that a listing provides. The funds are all licensed in The Bahamas and the management office is based here, so it made sense to list here. BISX is also attractive to us for its Bloomberg feed and the fact that it is an affiliate member of IOSCO, both of which give it strong credibility for a young exchange.”[4]

At the time of the listing, GEM’s four BISX funds had an estimated net worth of $100 million. Not three years after the listing, the Gazinvest Fund posted 334.39% returns in a one-year period, earning it a second place rank on Bloomberg’s hedge fund league table.[5] The Post Communist Opportunities Fund, also managed by GEM, ranked a notable 13th over that same one-year period.[3]

Madoff controversy[edit]

Anthony Inder-Rieden was one of the victims of Bernard Madoff’s infamous $64 billion Ponzi scheme. In the wake of the scandal, Anthony Inder-Rieden was able to procure insurance payments for all of his clients exposed to Madoff’s illegal fund.[6] Those clients received full restitution for their losses.

Web rumors circulated in the wake of Madoff’s indictment that implicated Inder-Rieden in Madoff’s wrongdoing. These rumors stemmed from a class action lawsuit filed on July 17, 2009, in which Anthony Inder-Rieden was named as a defendant. The suit was filed in the United States Federal Court for the Southern District of New York.[7] The civil complaint alleged that Mr. Inder-Rieden’s Euro-Dutch Management firm negligently failed to uncover Bernard Madoff’s fraud despite numerous “red flags.” The lawsuit originated from $1 million in management fees paid to Euro-Dutch for financial services including an audit of the Santa Clara I Fund that had all of its assets invested with Madoff.

The rumors were ultimately dispelled as the plaintiff decided not to proceed with the lawsuit after initial filing. Though Inder-Rieden was named as a defendant in the initial complaint, he has never actually been a defendant in any case relating to Madoff’s fraud.

See also[edit]

References[edit]

  1. ^ United Kingdom. "Bonhams 1793 : A blue and white baluster vase Chenghua six-character mark, Kangxi". Bonhams.com. Retrieved 2012-07-26. 
  2. ^ a b "Biography for Anthony Inder Rieden". Silobreaker. Retrieved 2012-07-26. 
  3. ^ a b [1][dead link]
  4. ^ "BISX - Bahamas International Securities Exchange". Bisxbahamas.com. 2003-12-26. Retrieved 2012-07-26. 
  5. ^ "BISX Attracts Funds Listings - News - Bahamas Financial Services Board". Bfsb-bahamas.com. 2003-12-29. Retrieved 2012-07-26. 
  6. ^ "Sedgwick - Law Firm Publications & Presentations - Credit Crunch Digest". Sdma.com. Retrieved 2012-07-26. 
  7. ^ [2][dead link]
  • (March 14, 2006). "Capacity or Conviction" in HFM Week.
  • Hartnell, Neil (August 25, 2009). "Ernst & Young Defendant in Madoff Lawsuit" in The Tribune.
  • (Dec. 29, 2003). "4 Funds With $90 Million in Net Assets Listed on BISX" in Bahamas Financial Services Board.
  • Morton, Phillip (January 14, 2004). "Four Emerging Market Funds Recently Listed on BISX" in Tax News.