| 09.10.2008 Opalesque Exclusive: Geneva banks who run hedge funds suffered heavy redemptions, AUM down 8 to 20% |
| From the Opalesque team: Just when Geneva thought it was sheltered from the financial crisis, it is getting a beating, reports Swiss paper Le Temps. The bank Union Bancaire Privée (UBP), the world’s number one in the funds of hedge funds sector, saw redemption requests last month amounting to CHF6bln (US$5.3bln). The redemption period being 3-month long, the bank will have to issue them at |
| Article source: http://www.swissinfo.ch/eng/news/business/Swiss_welcome_EU_move_to_stabilise_markets.html?siteSect=161&sid=9818877&cKey=1223445313000&ty=st - Opalesque is not responsible for the content of external internet sites |