Wednesday, Jul 25, 2007
The move follows estimates the fund would fall in value by up to 6 per cent in July, following widespread re-pricing of sub-investment grade debt.
smh: Sydney hedge fund freezes withdrawals to prevent run
SYDNEY hedge fund Absolute Capital has frozen investor redemptions from its $210 million Yield Strategies fund, blaming debt markets that have "ceased to operate normally".The move follows estimates the fund would fall in value by up to 6 per cent in July, following widespread re-pricing of sub-investment grade debt.The market value of these debts has been hit hard, following credit rating downgrades related to defaults from the US sub-prime home loan markets.
Posted by chris :-)) @ 11:29 PM (135 views) Add Comment
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