Another fund goes under Down Under

The Absolute Capital Yield Strategies Fund in Sydney apparently "suspended" itself today, which as we all know is just another way of saying "we are thrashing about in the final throes of and agonizing death. we were harpooned on on July 17 when the Bear Stearns funds (finally) imploded for good and we realized our capital had been wiped out. since then any efforts to stanch the hemorrhaging of blood have failed. we are now on life support, dead in all but the purest physiological sense."

Or maybe it's more like "we are stopping you from taking out your money because we can. we will collect our 2% fees for as long as we can avoid the mark to market of our worthless structured finance products because we can. we will get richer because we can. then when we are finally forced to close up shop we'll go on vacation to Fiji. fuck you all."