Shareholders face the prospect of paying taxes on gains even as their funds' values are sinking. |
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Hedge funds' arrival in force creates risks and opportunities for local dealers and asset managers. |
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This reflects the myth that the trust funds' balances represent an asset. |
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Such front-running would boost the funds' costs by driving stock prices up or down before they could adjust their portfolios, the industry argued. |
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Many teams set up 'coupon funds' to allow clothing rations to be contributed by members to buy kit. |
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