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First Step investment trusts wind-down stall as buyers dry up
Wednesday 22nd of July 2009
Calibre Asset Services, the company's trustee, wrote to investors last week warning them "further write downs or losses" could occur as the likelihood of more loan defaults from borrowers increases. The trustee put the drop-off in interest down to "general economic conditions," with potential buyers "tending to look for fire sale prices."
"The market seems to be continuing to deteriorate...
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