Reverberations from the collapse of derivatives broker Refco may have put PlusFunds Group on some shaky ground, according to Last month, Refco creditors questioned how the fund manager was able to move $312 million from Refco to a separate brokerage account at Lehman Brothers just days before Refco's $16.8 billion bankruptcy filing last October.

Attorneys representing creditors claimed the trade smacked of a too-cozy relationship between PlusFunds, which controls the rights and sale of Standard & Poor's hedge fund indices, and Refco, which managed and marketed one of its funds. A bankruptcy judge agreed, and ordered that the assets in question be frozen.

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