FP SUMMARY

P O R T U S A L T E R N A T I V E A S S E T

M A N A G E M E N T I N C . The latest report of Portus Alternative Asset Management Inc.’ s court-appointed receiver, KPMG Inc., shows that the collapsed hedge-fund firm deducted 13.3¢ of every investor dollar. The deductions, totalling $95.4-million, were used to pay for Portus’s expenses, referral fees to brokers and to fund redemptions of other investors. KPMG’s report depicted Portus’s operations to be very different than how the firm purported to function.