Reef Ltd wants to sell its portfolio of shares given that the market appears to be at

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Reef Ltd wants to sell its portfolio of shares given that the market appears to be at a ‘high point’. However, there are restrictions in place which mean that it must wait for one month before it can sell its shares. Worried about possible movements in the share market, Reef Ltd decides to enter a futures contract. What position would it take in such a contract and how will this insulate it from possible fluctuations in the market prices of its share portfolio?

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