Fundtech (Nasdaq:FNDT) is to write down $1.5 million for the fourth quarter of 2001 due to the erosion of its investment in securities, Yedioth Ahronoth reports.

In the third quarter the company wrote down some $6 million on securities investments, in addition to a business activity write down of $1 million.

The company decided on the recent write down because the securities failed to generate the expected return on investment, and estimated that the drop in value of the shares was an ongoing process, not a one-time event.

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