Exact(12)
Guggenheim Investments and iShares, likewise, offer exchange-traded funds built around BRIC indexes.
Reserve funds, built up to record levels during the boom, have been drawn down.
"The legacy of the late, great Jack Walker has been shamefully squandered," he wrote, referring to the industrialist whose funds built the club.
Since America's states, with the exception of Vermont, are not allowed to run deficits, any projected shortfalls must be covered by rainy-day funds built up in boom years, or plugged with tax rises or spending cuts.
The country's $173 billion in sovereign-wealth funds, built up over years of windfall profits from oil sales, will be drawn down to stabilise the rouble and pay off the debts of state banks and firms.
Updated, 5 35 p.m. |Sotheby's announced on Wednesday that it was reviewing its financial policies, after a number of prominent hedge funds built up significant long positions in the auction house.
Similar(48)
Keep your already fully-funded emergency fund built up for the next emergency.
Typically macro funds build their positions slowly.
Some states, spurred by generous federal funding, built themselves two supermaxes.
Nobody is too worried about Norway's government pension fund, built on the back of the country's oil revenues.
Any extra public support will come out of the £2.7 billion contingency fund built into the new budget.
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