H20 Natixis funds, redemption alarm also for Italian savers

Rain of redemptions on the H20 funds of the French investment bank Natixis, widely distributed in Italy by banks and asset management companies for their captivating performance. So far have been already 325 million euros redeemed on funds from the Allegro, Adagio and Multibrand stables by savers worried by the risk that many fund bonds will not be repaid later the rejection of the rating company Morningstar. But since the beginning of April, the masses lost by H20 amount to 600 million and this says a lot about the alarm that has been triggered on the riskiness of many illiquid bonds held in the portfolio by H20 funds, above all since it has been known of potential conflicts of interest pertaining to Bruno Crastes, the founder of the company 50% controlled by the French investment bank Natixis which in recent days has suffered real collapses on the Stock Exchange.

In Italy, around thirty banks and asset management companies have distributed Natixis H20 funds, ensuring, even in the unfortunate 2018, respectable returns. But now many savers are trembling. Because such cases - as the first signs of the subprime mortgage financial crisis in the spring of 2007 taught - we know how they begin but never how they end. And it goes without saying that, despite the reassuring words of the manager, who boasts abundant liquidity reserves, the fear is that refunds could be blocked, leaving many savers, including Italians, with the match in hand and with investments vanishing.