Fund groups have closed dollar denominated funds today as New York was declared a major disaster area following the devastating impact of Hurricane Sandy.
A four metre high tidal surge sent seawater cascading into large parts of New York City's subway system, and so far at least 15 people have been reported dead across several US states. The storms forced US stock markets to shut for the second successive day, leading a number of fund groups to close dealing in dollar dominated funds. Investment Week understands Thames River and Findlay Park are among the groups to have declared a non-dealing day on their dollar dominated funds. In a note to clients, Thames River said it has suspended trading on its Eastern European, Water & Agricult...
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