America Fund: Bearsden two hedge funds under the current almost worthless
From: Reuters
Compiler: Fund China
Reuters, New York, July 17—- According to sources, American investment bank Bearsden (BSC) under two by the large-scale investment in high-risk sub-optimal unsecured loans to the beleaguered — Hedge Fund, “almost worthless.”
Bearsden asset management in June, said Rescue will not sell funds under High-Grade Structured Credit Enhanced Leverage Fund. Sources said, The net assets of the Fund “into obscurity.”
The source said, Another hedge fund High-Grade Structured Credit Strategies Fund’s net asset value of about 0.09 U.S. dollars.
Bearsden last month to provide 1.6 billion U.S. dollars, the rescue of the hedge funds, in order to avoid liquidation.
CNBC television earlier reported that the Bearsden told investment, under two hedge funds has now basically worthless. Unit transactions in the pivot nosedived dropped by about 2.7%.
Copyright Fund China 2009.
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