Tremont Group

Tremont Group Holdings, Inc., a Delaware corporation headquartered in Rye, New York, is a hedge fund that was a feeder fund to Bernard Madoff's investment advisory firm in the Madoff investment scandal. It was the second-largest feeder fund to Madoff's firm, after Fairfield Greenwich, earning fees of 2% of assets for sending customers' cash to Madoff.

History

Tremont Group was founded in 1985 by money manager Sandra Manzke, who was its chief executive officer from May 1994 to August 2000, and co-CEO until 2005. It owns Tremont Partners and Tremont Capital Management (formerly Tremont Advisers), a hedge fund of funds. Tremont Holdings also has offices in London, Toronto, and Hong Kong. Its subsidiaries are regulated by the U.S.'s Securities and Exchange Commission and National Association of Securities Dealers, the U.K.'s Financial Services Authority, the Ontario Securities Commission, and the Hong Kong Securities and Futures Commission.

Tremont Group invested with Madoff, who had a close business relationship with Tremont executives Manzke and Robert I. Schulman, starting in 1997 via its Rye Investment Management division, headquartered in Rye, New York.

Group

Group may refer to:

Groups of people

In science and technology

In mathematics

In chemistry

In computing and the internet

Other uses in science and technology

Other uses

Shot grouping

In shooting, a shot grouping, or simply grouping, is the placement of multiple shots on a target, the shots taken in one shooting session. The closeness of the grouping, the nearness of all the shots to each other, is a measure of the accuracy of a weapon, and a measure of the shooter's consistency and skill.

Uses of the term

For firearms that shoot one round at a time, a shot grouping can be used to measure the accuracy of the system comprised out of weapon as well as the precision and uniformity of the ammunition by fixing the weapon into position on a test mount, and aiming it at a target. Multiple shots using rounds from same type and batch are fired to observe how the weapon groups the shots. If a person holds the weapon and shoots it, the grouping measures the combination of the person's skill and the weapon's accuracy.

In shotgun shooting, the grouping is also called the pattern. The pattern is the spread of shot from a single shotgun shell, measured as the smallest circle containing all the shots on the target. The barrel of a shotgun is designed to deliver a wide or narrow grouping, depending on the expected use. Shooting at close range indicates a cylinder bore barrel to deliver a wide grouping, while for hunting at longer distances such as 50 yards or meters, a choke is recommended for a tighter grouping.

Stratigraphic unit

A stratigraphic unit is a volume of rock of identifiable origin and relative age range that is defined by the distinctive and dominant, easily mapped and recognizable petrographic, lithologic or paleontologic features (facies) that characterize it.

Units must be mappable and distinct from one another, but the contact need not be particularly distinct. For instance, a unit may be defined by terms such as "when the sandstone component exceeds 75%".

Lithostratigraphic units

Sequences of sedimentary and volcanic rocks are subdivided on the basis of their lithology. Going from smaller to larger in scale, the main units recognised are Bed, Member, Formation, Group and Supergroup.

Bed

A bed is a lithologically distinct layer within a member or formation and is the smallest recognisable stratigraphic unit. These are not normally named, but may be in the case of a marker horizon.

Member

A member is a named lithologically distinct part of a formation. Not all formations are subdivided in this way and even where they are recognized, they may only form part of the formation.