Natixis and the torment of H2O

Posted on Dec. 2020 at 5:00 p.m.

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Asset management companies that invest the money that savers entrust to them usually prefer discretion. Since this summer, H2O AM’s daring has been making headlines in the financial press and could cost the Natixis bank to which it is affiliated dearly.

British asset management star H2O has invested clients’ funds in unlisted stocks and bonds. So betting on illiquid assets is not a problem as long as investors do not claim their money. But can be complicated if many ask to sell their shares

An originality that turned to concern when it appeared that the assets were directed towards groups of companies linked to a single character, the German Lars Windhorst. A sulphurous investor who, at 42, already has several bankruptcies or convictions and survived a plane crash in Kazakhstan.

The AMF has requested suspensions in the interest of the holders. Embarrassing news for Natixis, which had been the largest IPO in France in 2006 but has already lost 87% of its value since.

The Story is a podcast of “Echoes” presented by Pierrick Fay. This episode was recorded in November 2020. Editor in chief: Clémence Lemaistre. Guests: Bastien Bouchaud and Romain Gueugneau (journalists at “Echos”). Director: Willy Ganne. Music: Théo Boulenger. Graphic identity: Upian. Photo: Loic Venance / AFP. Sounds: BFM TV, C Jérôme “When the sea recedes”.

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