{"id":18931,"date":"2023-04-21T20:40:58","date_gmt":"2023-04-21T20:40:58","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/credit-suisse-saw-record\/"},"modified":"2023-04-21T20:43:52","modified_gmt":"2023-04-21T20:43:52","slug":"credit-suisse-saw-record","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/credit-suisse-saw-record\/","title":{"rendered":"Credit Suisse saw record fund outflows during March turmoil, data shows"},"content":{"rendered":"

By Marc Jones<\/p>\n

LONDON (Reuters) – Credit Suisse 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.<\/p>\n

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.<\/p>\n

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.<\/p>\n

Overall, Europe-domiciled long-term funds experienced the first combined monthly outflow since November. <\/p>\n

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. <\/p>\n

\n

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

\n

($1 = 0.9127 euros)<\/p>\n

\n

(Reporting by Marc Jones; Editing by Amanda Cooper and Louise Heavens)<\/p>\n

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By Marc Jones LONDON (Reuters) – Credit Suisse 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 […]<\/p>\n","protected":false},"author":8,"featured_media":19732,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1213],"tags":[1223],"class_list":["post-18931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-business","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportBusinessNews\/tagreuters.com2023binary_LYNXMPEJ3K0QS-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/18931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=18931"}],"version-history":[{"count":4,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/18931\/revisions"}],"predecessor-version":[{"id":19733,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/18931\/revisions\/19733"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/19732"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=18931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=18931"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=18931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}