U.S. Army Captain Michael Kelvington, commander of the Battle company, 1-508 Parachute Infantry battalion, 4th Brigade Combat Team, 82nd Airborne Division, bows next to remains of Gulam Dostager, a member of Afghan Local Police who was killed in the blast of an Improvised Explosive Device (IED) during the joint Tor Janda (Black Flag in Pashtu) operation, in Zahri district of Kandahar province, southern Afghanistan May 25, 2012.  REUTERS/Shamil Zhumatov  (AFGHANISTAN - Tags: MILITARY CIVIL UNREST CONFLICT TPX IMAGES OF THE DAY)

Reuters Photojournalism

Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography.  See more | Photo caption 

Members of the U.S. Navy Blue Angels fly over the World Trade Center in lower Manhattan as part of the 25th annual Fleet Week celebration in New York, May 23, 2012.  REUTERS/Eduardo Munoz (UNITED STATES - Tags: MILITARY ANNIVERSARY TPX IMAGES OF THE DAY)

Fleet Week

The U.S. Navy takes Manhattan for a week.  Slideshow 

Photo

The SpaceX mission

A privately owned unmanned rocket blasts off on a mission to be the first commercial flight to the International Space Station.  Slideshow 

FACTBOX: Firms exposed to Madoff's alleged fraud

NEW YORK | Fri Dec 12, 2008 6:05pm EST

NEW YORK (Reuters) - Investors scrambled on Friday to assess potential losses from an alleged $50 billion fraud by Bernard Madoff, a day after the arrest of the prominent Wall Street trader.

Following a list of some of the firms exposed to the alleged fraud:

FAIRFIELD SENTRY LTD

The $7.3 billion hedge fund run by Walter Noel's Fairfield Greenwich Group had accounts with Madoff Investment Securities.

KINGATE GLOBAL FUND LTD

The $2.8 billion hedge fund run by Kingate Management Ltd had invested in Madoff Investment Securities.

UBS

The investment bank unit of the Swiss financial group has a limited and insignificant counterparty exposure, its spokesman told Reuters.

BENEDICT HENTSCH

The Swiss private bank said its exposure to products linked to Bernard Madoff amounted to 56 million Swiss francs ($47 million), or less than 5 percent of the bank's assets under management.

PIONEER INVESTMENTS

UniCredit SpA's fund management unit is exposed through its Primeo Select hedge fund, according to two people familiar with the matter.

BRAMDEAN ALTERNATIVES LTD

The UK asset manager, headed by well-known fund manager Nicola Horlick, said almost 10 percent of its holdings were exposed to Madoff.

Bramdean said it had two holdings that maintain trading accounts with Bernard L. Madoff Investment Securities that represented 9.5 percent of its net asset value at the end of October.

TV network CNBC also reported that the following firms were clients of Madoff:

* Tremont Capital Management -- The manager of funds of hedge funds portfolios could not be reached for comment.

* Nomura Holdings Inc -- The Japanese brokerage house did not return a call seeking comment.

* Palm Beach Country Club -- The institution did not return a call seeking comment.

* Santander's Optimal Fund -- The unit of Spanish bank Santander could not be reached for comment.

* Sterling Equities -- The investment firm, owner of the New York Mets baseball team, did not return a call seeking comment.

* Bank Syz -- The Swiss bank dedicated to asset management could not be reached for comment.

* Lombard Odier -- The Swiss private bank could not be reached for comment.

(Reporting by Juan Lagorio; Editing by Toni Reinhold)

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