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MACQUARIE BANK SAYS TWO FUNDS HIT BY US SUB-PRIME LOAN CRISIS.

AsiaPulse News

| August 01, 2007 | COPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Aug 1 Asia Pulse - Macquarie Bank (ASX:MBL) has warned two of its investment funds could lose up to 25 per cent, or $A300 million ($US254.74 million), of their value as the fall-out from the United States' sub-prime loan crisis hits Australian shores.

In a statement to the market, Macquarie spokesman Peter Lucas says the bank's listed Macquarie Fortress Notes fund and the unlisted Macquarie Fortress Fund are exposed to an unanticipated surge in volatility in the US credit market.

"The price movement we have seen in the last week has been ...

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Source: HighBeam Research, MACQUARIE BANK SAYS TWO FUNDS HIT BY US SUB-PRIME LOAN CRISIS.

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