Now that is a bad trade ...from $4b to 60mCiti is shutting down...

Now that is a bad trade ...from $4b to 60m

Citi is shutting down a corporate credit hedge fund called Corporate Special Opportunities after it slumped more than 50% in October.
"As with many other credit-based investment products, investment returns have been hurt by one of the most volatile periods for fixed income in history," a Citigroup spokesman said in a statement Wednesday.
In February, Citi suspended investor redemptions from the fund, which once had more than $4 billion in assets. See full story.
The value of the fund's assets has now dwindled to less than $60 million, while its debt is about $880 million. That may leave investors with recoveries of no more than 10 cents on the dollar, according to the Financial Times.