Reuters – Australian investment bank Macquarie Group Ltd has managed to quell concerns on its capital position but is now bracing for its next big challenge of the global credit crisis: how to prevent its world-renowned specialist listed-funds model from crumbling.

Macquarie pioneered the specialist listed funds model in the early 1990s, encouraging even some Wall Street investment banks to follow suit. Fees from managing specialist funds made up 13.3 percent of Macquarie’s total income in the year to March 31, 2009.

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Guardian.co.uk – Lloyd’s of London, the specialist insurance market, has offered to buy back up to 100 million pounds ($145 million) worth of bonds at a hefty discount.

Tags: 100-million, bonds, capital position, capital securities, guardian, hefty discount, insurance, insurance market, lloyd, london, specialist insurance