Two held over hedge fund collapse

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Two men are being held by police investigating the collapse of a hedge fund controlled by Weavering Capital.

Officials from the Serious Fraud Office (SFO) swooped on homes in Kent and Surrey, supported by officers from City of London Police.

Two men, aged 43 and 45, were taken to a police station for questioning.

Weavering Capital (UK) Limited, an investment advisor to Weavering Macro Fixed Income Fund Limited, based on the Cayman Islands, collapsed in March.