UK probes Cayman hedge fund

British fraud investigators have opened an inquiry into the activities of a hedge fund based in the Cayman Islands.



The UK\'s Serious Fraud Office says it will examine the books of Dynamic Decisions Capital Management.



The move follows a flood of complaints about the company and a formal referral by the regulatory Financial Services Authority.



The fund was reportedly valued at $550 million at the end of last year.



But the firm\'s founder and chief executive, Alberto Micalizzi, has denied there was any fraud and says investors will be repaid their money.