According to a report by Bloomberg, Parkcentral Capital Management LP, an investment firm that manages money for the family of Ross Perot, is liquidating a fixed-income hedge fund because it is "no longer viable."

This year through October, the Parkcentral Global Hub Ltd. fund's assets fell as much as 40 per cent, to $1.5bn. Eddie Reeves, a spokesman, told Bloomberg that the Plano, Texas-based fund is selling its remaining holdings to pay creditors.

"Parkcentral Global has been impacted dramatically by the unprecedented upheaval of the capital markets in general and the freezing of credit markets in particular," Mr. Reeves said. "The fund is no longer viable."

Mr. Perot, who ran for U.S. president in 1992, and members of his family are the fund's biggest investors according to the report.