Still no thaw in sight for H2O funds

Posted on Oct 26, 2021 8:15 AMUpdated Oct 26, 2021, 10:04 AM

It has now been over a year since a portion of the savings of H2O customers have been in troubled waters. Since the end of August, it even seems to have become invisible. “In the current circumstances and in the interest of unitholders, it was decided to suspend the publication of the estimated monthly values ​​of the SP funds[‘sidepockets’orring-fencedfundsEditor’snotewritesthemanagementcompanyinalettersentthismonthtoitsdistributorsthatwasprocuredby’LesEchos’AssoonaspossibleH2OAMwillresumepublishingestimatedvalues”[‘sidepockets’oufondscantonnésNDLRécritlasociétédegestiondansunelettreenvoyéecemois-ciàsesdistributeursques’estprocurée’LesEchos’ DèsquecelaserapossibleH2OAMreprendralapublicationdesvaleursestimées »

The London boutique, which was for a long time the star of the Natixis galaxy, had split its funds under French law in October 2020. With a “healthy” part reopened to subscriptions and redemptions, and an illiquid part of 1.6 billion euros. These limited pockets are invested in the debt of the ailing group Tennor (La Perla…), controlled by Lars Windhorst, a controversial German businessman. To date, there is no certainty that H2O’s customers, mainly French savers, will get their money back.

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