Business Spectator- High-profile Sydney lawyer Chris Murphy has pointed the finger at hedge funds, saying that the funds were responsible for the short selling of shares held in his Opes Prime accounts.

Mr Murphy said that he believes that his Challenger Financial shares were lent to hedge funds, through Australia and New Zealand Banking Group and Merrill Lynch, and were used by the funds to short the stock, resulting in the value of the shares falling, The Age reports.

He said he personally informed over 60 merchant banks and financial institutions, including Opes, about the shorting of the Challenger shares in February, the paper reports.

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