H2O Asset Management has said it will begin the first reimbursement of its side-pocketed funds, paying out €250m to investors.
In a statement today (3 January), the French asset manager said it would begin repaying unitholders some of the €1.6bn it owes investors "in the next few days". In August 2020, seven of the asset manager's funds were suspended, with its illiquid holdings ‘side-pocketed', after uncertainties around valuations and illiquid assets led to investors withdrawing billions. This was followed by a statement in July 2022, where H2O AM laid out its plans to liquidate the suspended funds, as well as retrieve money from controversial German businessman Lars Windhorst's Tennor Group "within the yea...
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