A funds manager manages a diversified Australian share portfolio, but is concerned that stock prices in the market will fall over the next three months. The manager decides to hedge the risk by selling
1
4
3
S&P
/
ASX All Ordinaries Share Price Index futures contracts at
3
0
8
3
.
Three months later, when the manager closes out the position, the contract is trading at
3
0
1
7
.
Calculate the profit or loss position of the futures transactions
(
assume contract multiplier of $
2
5
)
.
DO NOT input the
–
ve sign for loss position, i
.
e
.
,
if the value is
-
1
0
0
0
input
1
0
0
0
.