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June 15, 2006
Fernwood may Discontinue Hedge Fund Program
According to unconfirmed sources, Fernwood Art Investments has discontinued its art hedge fund program for wealthy investors. The news gathered momentum with telephone calls going unanswered in its offices across Boston, Miami and New York City. The offices are empty of staff. It has been reported that there was a bust-up among the company's principal directors. Analysts believe that Fernwood and some other art investment companies could not read the market properly. The wealthy investors could not see the difference between investing in art and collecting, which made them suffer in the end. Maine Antique Digest has published an article on the Same Topic.
The apparent disappearance of Fernwood has left the field to just one remaining art investment company, the London-based Fine Art Fund, which currently operates one fund and expects to launch two more this month.
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