Jefferies' asset management business is facing ongoing turmoil as Radiant Worlds risk exposures come under scrutiny again.

Investors in Jefferies Financial Group's affiliated fund Point Bonita Capital began requesting the redemption of all their funds after learning last year that the fund's largest exposure was to the troubled auto parts supplier First Brands Group. As the investors were left with only one final amount to recover, the fund once again became the focus of the market. According to informed sources, Jefferies is currently reviewing its exposure to Radiant World. This little-known company has rapidly risen to become one of the largest iron ore traders in the world. Some insiders indicated that the exposure has decreased from its peak and is now below $300 million.