Shooter Fund Down 28% In October

This tip was sent in to us anonymously this evening and is apparently a forwarded email (this is all unconfirmed). It reports massive losses to Shooter's Multi Strategy Fund Limited in the month of October:

Shooter multi strategy fund October update

Shooter Multi Strategy Fund net October 2007 performance*

USD share class: - 28.62%       NAV: 1,022.09   YTD: - 24.48%
USD C share class: -28.62%      NAV: 782.84
Euro share class: - 28.71%      NAV: 981.61     YTD: -25.14%
Euro C share class: - 28.71%    NAV: 777.43

Given the large loss to the fund this month I have been trying to
reach all of you by phone directly.  Given the number of investors
we have this has proved difficult and so I wish to update you now
that the Shooter Multi Strategy Fund Limited has a loss for October
2007 of 28.62% in the USD share class and a loss of 28.71% in the
Euro share class.

I will be in contact with all of you by phone as soon as possible
to discuss what has occurred, where we are now and our plans for
the future.
___________________
David Beddington
Shooter Fund Management
Unit 206 Business Design Centre
52 Upper Street
London
N1 0QH
+44 (0)207 704 7724

Shooter's web site describes the fund thusly:

The Shooter Multi Strategy Fund Limited, launched November 1st 2004, is a relative value fund seeking to generate consistent absolute returns in a range of market conditions. Historically the firm has traded in equity (US and Europe), FX and interest rate markets (G10) with a sizeable allocation to equity volatility and quantitative strategies.

We're unsure of the size of the fund.

They also have a second fund, the "Shooter Bear Fund Limited", which we can only assume is doing fine, but who knows.