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He did not say which funds held the stock.
On Sept. 15, money funds held $3.43 trillion in assets.
Until recently, American pension funds held only 3% of their assets in property.
The trustee's estimate represents a significant portion of customer funds held by MF Global.
In 2000 and 2001, when the stock market collapsed, most hedge funds held up pretty well.
In the article, he did not disclose whether his funds held any Irish bonds.
"It's one of the reasons our funds held up in the second quarter," Mr. McDermott said.
American officials say they are examining whether there are problematic Account 98 funds held at Samba.
The Finance Ministry also plans to take control of pension funds held by the Histadrut.
Coal is similarly high in the funds held by Aberdeen Asset Management.
That led to closer scrutiny of portfolio managers' personal investments in the securities their funds held.
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