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Each of them reported a historically high allocation of 13-17 percent to hedge funds.Christian Shreckeis, head of capital markets and investor relations at the Austrian Treasury, said the country's recent 70-year bond received strong hedge fund demand, but could not be more specific as Austria does not separately record hedge funds' allocation in its bonds data.Most other eurozone countries, including Germany and the Netherlands, also do not have figures for hedge funds' debt investment – either because they do not break out such data or tend to issue bonds only in auctions where they are taken up by banks who then sell them on to investors.Belgium's allocation to hedge funds on syndicated transactions has spiked from 4.5-6.4On a 3.5 billion euro 30-year bond in March, as much as 24.34 percent was sold to hedge funds, data on the country's debt agency website shows.The yield on Italy's 5 billion euro 50-year bond, for example, has risen 58 basis points since it was issued in early October; in cash price terms it has fallen from 99.194 to 85.50, suggesting investors who still hold the bonds have lost over 11 percent of their investment, according to calculations from banking group BBVA.
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