Wednesday, July 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.

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 (456 views)
Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>