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Hedge funds urge calm as Basis crisis deepens
Friday 20th of July 2007
At least two hedge fund managers, Absolute Capital and Select Asset Management, issued notes to investors distancing themselves from the US sub-prime mortgage and Collateralised Debt Obligation (CDO) markets.It was revealed last week that the Australian manager Basis was in trouble after its exposure to the US sub-prime market through CDO investments had led to losses in its Yield Alpha fund...
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