Basis Fund Worth Just Pennies On The Dollar

Jan 30 2008 | 8:19am ET

Australia’s Basis Capital Fund Management has told investors that one of its subprime-struck hedge funds is now worth just two cents on the dollar.

The valuation, which comes from a sister fund to the Pac-Rim fund, comes after Basis sold off A$100 million in assets, positioning itself to split off “dislocated” structured credits from its high-yield strategies, the Financial Times reports.

The Sydney firm’s flagship Yield Alpha fund, which is in liquidation, expects to pay creditors about A$62 million. Before the credit crisis struck, the fund managed A$700 million.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 

From the current issue of