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In January an equity portfolio manager of $62.5million in assets forecasts that there will be a significant decrease in the ASX200 by March. The value

In January an equity portfolio manager of $62.5million in assets forecasts that there will be a
significant decrease in the ASX200 by March. The value of the portfolio is currently $55 million and
in March the September SPI futures are trading at 5000. Calculate the cash settlement from the
futures position, if the market fell to 4750 in march

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