Current news for this fund:
Standard Chartered - Whistlejacket SIV - Bank SIV
Count of distinct funds: 1
This vehicle is now in receivership, after being dramatically downgraded:
The capital value of the fund fell to about 41%, triggering the 11-notch downgrade to Ba2.
Pretty astounding that this all happened without actual credit losses—this implosion was purely driven by market valuation pressures, it seems. Will participants be able to get their money out without losses in the process is the next question.
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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.