NEW YORK: Amaranth Advisors LLC, the hedge-fund company that imploded after making wrong-way bets on natural gas, said losses swelled by US$1.4bil this week after the firm had to unload assets at a discount to avoid a shutdown.
Amaranth funds plunged 65%, or more than US$6bil, this month as of Sept 19, founder Nicholas Maounis said in a letter to investors late Wednesday. That leaves the Greenwich, Connecticut-based firm with less than US$3.5bil of assets.
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