Following the mutual fund market-timing scandal, a lot of brokers and hedge funds - especially those implicated - have been assiduously staying away from strategies that involve mutual funds, but some are back in the game. One hedge fund market timer has set up shop under a new name and is back in the business of using mutual funds as part of a hedge fund strategy.

Mark Arnold, managing member of Kismet Capital Advisors, once managed a $100 million market-timing hedge fund called Atlantique Capital Advisors, according to AG Edwards recently got in hot water over market-timing trading for hedge funds, including Atlantique.

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