Investing.com UK - Financial Markets Worldwide
NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Credit Suisse saw record fund outflows during March turmoil, data shows

Published 21/04/2023, 10:36
© Reuters. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen in front of a branch office in Bern, Switzerland November 29, 2022. REUTERS/Arnd Wiegmann
CSGN
-
CS
-

By Marc Jones

LONDON (Reuters) - Credit Suisse (SIX:CSGN) saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank's troubles last month, data published on Friday showed.

The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland's financial authorities orchestrate its emergency takeover by rival UBS.

The data also showed that Swisscanto, another Swiss asset manager, saw the second-largest inflow of funds after iShares in March, with an estimated 6.2 billion euros pouring in.

Overall, Europe-domiciled long-term funds experienced the first combined monthly outflow since November.

Going back over the last 12 months, the data also showed Credit Suisse's funds, which Morningstar counts as either open-ended fund and exchange-traded funds, had seen money exiting every month apart from one.

© Reuters. FILE PHOTO: A view of an entrance of a Credit Suisse U.K. Limited in London, Britain March 20, 2023. REUTERS/Henry Nicholls/File Photo

Turmoil triggered record withdrawal from Credit Suisse funds, https://www.reuters.com/graphics/CREDITSUISSEGP-FUNDS/jnpwybemmpw/chart.png

($1 = 0.9127 euros)

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.