Collectif Porteurs H2O’s 50 savers are suing Natixis IM affiliate. Their goal? Gain independent expertise on funds frozen since summer 2020. More than 1.5 billion assets will be affected.
The nightmare continues. Many French customers of H2O Asset Management have been waiting for repairs for over a year. Today they are going through the attack. Collectif Porteurs H2O comes fromset in rfr The British Management Company and its parent company before the Paris Commercial Court.
inside the assembly, About fifty savers Wealth management advisors are claiming independent legal expertise for the investment funds of Natixis IM affiliate, which have since been frozen. aot 2020.
H2O case: Natixis tries to put out the fire
Known for its aggressive arbitrage, H2O AM was first pinched in 2019 due to its questionable management practices. The company raised a new wave of concerns during the summer of 2020, with the suspension of 8 funds, including 3 at the request of the Autorit des Marchs Financiers (AMF).
In question, important positions taken in Doubtful illiquid assets Lily to German sulfur businessman Lars Windhorst. The result: funds were frozen, then illiquid assets were sequestered into side pockets, or camp box.
Frozen Investments: H2O Reveals Details of Restricted Funds
A year later, H2O AM has already reopened the liquid portion of its funds. But to the chagrin of savers, Natixis AM subsidiary Natixis AM postponed the reopening of collection boxes, which had initially been planned. my 2021.
At present, assets placed in “side pockets” are kept frozen indefinitely, preventing any exit for the savers involved. In total, these assets will represent 1.5 billion euros About.
Some clients signed up for the H2O Allegro fund, which has more than 30% of its assets blocked for two years. In addition, for all those who signed up for this fund through a life insurance contract, this leads to frequent management complications because insurers have difficulty managing these illiquid assets, says Grad Maurin, president of Collectif Porteurs H2O, of during inerrog Live better on your money.
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