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Credit Suisse funds bled $3bn around UBS merger
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fnlondon.comCredit Suisse-branded investment funds suffered net outflows of $3bn in the days surrounding its shotgun wedding with Paradeplatz rival UBS, showing the extent to which the market was rattled over the future of its bank parent.
Data provided to Financial News by Morningstar — which covers around 300 of the Swiss asset manager’s Europe and US-domiciled funds — show heavy outflows began on 14 March, the day on which Credit Suisse announced discovery of material weaknesses” in its financial reporting controls.
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Read more on fnlondon.comAbout this in other media
UBS holds first shareholder meeting since controversial Credit Suisse takeover cnbc.com /1 year ago
Credit Suisse chair ‘truly sorry’ over downfall of 167-year-old bank theguardian.com /1 year ago
Credit Suisse shareholders gather at annual meeting to demand answers over UBS rescue cnbc.com /1 year ago
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