Released some funds I had (5)

I believe the answer is:

undid

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'released' is the definition.
(I've seen this before)

'some funds i had' is the wordplay.
'some funds' becomes 'und' (I can't explain this - if you can you should believe this answer much more).
'i had' becomes 'I'd' (contraction).
'und'+'id'='UNDID'

Can you help me to learn more?

(Other definitions for undid that I've seen before include "Cancelled, reversed (an action)" , "Loosened; reversed" , "Released" , "Disentangled" , "Loosened; ruined" .)

I've seen this clue in the Evening Standard.

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