Article Image
IPFS News Link • United Kingdom

Two Giant Distressed Funds Gate Clients From Withdrawing Money

• https://www.zerohedge.com, Tyler Durden

As a result, over the past 4 years we had seen a procession of prominent funds gating investors, starting with the junk bond fiasco at Third Avenue which led to a premature end for the asset manager, then the three largest UK property funds suddenly froze over $12 billion in assets in the aftermath of the Brexit vote; two years later the Swiss multi-billion fund manager GAM blocked redemptions, followed by iconic UK investor Neil Woodford also suddenly gating investors despite representations of solid returns and liquid assets, then it was the ill-named, Nataxis-owned H20 Asset Management decided to freeze redemptions; and finally two weeks ago the largest UK property fund, M&G, halted redemptions.


midfest.info