The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who wrote (165145)	11/19/2008 12:05:27 AM
From: posthumousone	Read Replies (2) of 306849

Is this big news? Citigroup Liquidates Fund That Fell 53% In A Month - FT Nov 18, 2008 22:45:29 (ET) DOW JONES NEWSWIRES Citigroup Inc. (C) is liquidating its Corporate Special Opportunities hedge fund, which lost 53% of its value last month, the Financial Times newspaper reported Wednesday on its Web site, citing people familiar with the matter. CSO managed almost $4.2 billion at its peak and has a net asset value of about $58 million and debt of about $880 million, investors say, according to the FT. Investors in the fund will likely receive no more than $0.10 on the dollar and Citi's losses could hit hundreds of millions of dollars, the newspaper said, citing people familiar with the matter. The FT quoted Citigroup as saying its hedge funds "are subject to comprehensive internal fiduciary and risk management oversight and senior level management supervision. As with many other credit-based investment products, investment returns have been hurt by one of the most volatile periods for fixed income in history." Full story: ft.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day.

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