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To: Simon who wrote (12728)1/6/1998 2:25:00 PM
From: Zeev Hed  Respond to of 18056
 
Simon, I think that these line of credits are just "Tying over", limited to 10% of assets under management in each fund and for short periods only, just so as to prevent catastrophing rolling down when a lot of people decide simultaneously to get out of a fund. Unfortunately, I am not sure what are the dafeguards. I hope there are some.

Zeev