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Blue River Asset Management - muni bond fund

2008-03-12

Count of distinct funds: 1
Capital base: $1B
Loss: ?

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stories: reuters.com

The main Blue River municipal bond fund, which the above article states may have held over $1B in assets at peak, is now liquidating due to market distress. The article suggests the fund may have been highly leveraged, given the assumption that municipal bonds were totally safe. Obviously that assumption was shattered in recent weeks.

If you have more details, please let us know.

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Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.