News

More bad news for credit funds

Wednesday 14th of January 2009

Credit Sails was promoted by Forsyth Barr and raised $91.5 million when it was launched in 2006. The underlying collateralised debt obligation assets are managed by Calyon.

Credit Sails says that the nominal value of the securities has been reduced due to “the occurrence of several credit events”. It says each $1000 note has been reduced by $711 each.

And more could come. Credit S...

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