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C » Topics » Citi-Managed Fund Reserve

This excerpt taken from the C 10-Q filed May 2, 2008.

Citi-Managed Fund Reserve

        In the first quarter of 2008, GWM offered to facilitate the liquidation of its clients' investments in the Falcon multi-strategy fixed income funds (Falcon Funds) that have been negatively affected by recent market stress in certain fixed income assets. As a result, GWM recorded a $250 million reserve to cover the estimated cost of these arrangements.

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