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Barclays Says it Has No Big Exposure to Troubled U.S. Funds

British bank Barclays on Friday said it had some exposure to funds that have lost money from investing in sub-prime mortgage assets in the United States, but that any loss in relation to the exposure would not be material.

Barclays Capital has about $300 million exposed to a Bear Stearns hedge fund that is on the brink of collapse, according to several media reports.

Barclays confirmed in a statement that in the ordinary course of its business Barclays Capital had some exposure to funds investing in the troubled U.S. mortgage assets, but did not quantify the amount.

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