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Detroit ruling to boost hedge fund demand, says Ashcroft’s Don Steinbrugge

Investment Europe – Don Steinbrugge, chairman at Agecroft Partners, says a court ruling involving bankrupt US city Detroit could have significant implications for demand for hedge fund investments.

Judge Steven Rhodes’ ruling that the City of Detroit is officially bankrupt and that pension benefits for public pension fund beneficiaries may be reduced will have major repercussions throughout the public pension fund industry.

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