Aviva refuses to flesh out hedge fund complaints

The spat involving insurers squeezed between regulated solvency levels, falling investment returns and hedge fund operators who are raking in the profits, grew worse this week as Man Group announced a second quarter record for new investments in its funds under management and Aviva, Legal & General and Friends Provident called for an investigation into unregulated hedge funds. Aviva and the others accuse hedge fund managers of making profits by driving down share prices through short selling, and say lower share prices are damaging their own solvency levels, forcing them to dump shar...