IQDAX Halts Investor Redemptions
Have you invested in Infinity Q Diversified Alpha Investor Fund? In February 2020, Infinity Q Diversified Alpha Investor Fund halted redemptions in its mutual fund, due to alleged fraud of the portfolio manager.
The Fund, which trades under the symbol IQDAX, forbid its chief investment officer from trading after discovery issues valuing the fund’s holding, according to the Wall Street Journal. According to its prospectus, the Infinity Q Diversified Alpha Investor Fund seeks positive returns through “alternative” or “absolute return” strategies. Essentially, this mutual fund uses derivatives, swaps, futures, options, and other instruments to try to achieve returns. However, it was alleged that the fund manager, James Velissaris, had been tweaking the methodology to value certain assets, and these may have been inflated or unreliable.
Investors may be able to sue their financial advisor for any losses in the Infinity Q Diversified Alpha Investor Fund investments. Investors can sue if their advisor misrepresented the risks of Infinity Q Diversified Alpha Investor Fund to them, and if the investments were not suitable for the investor.
Israels & Neuman is an investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; Phoenix, Arizona; and Ann Arbor, Michigan. Our attorneys have represented over 1,000 investors throughout the country, including in FINRA arbitration.