UBS will repay former Credit Suisse clients 90% of the net asset value of the Credit Suisse Supply Chain Finance funds still tied to collapsed lender Greensill Capital.
According to UBS, the payout will allow investors to exit from their positions and will be funded through the purchase of units of the feeder subfunds. The offer to repay investors, which was unveiled today (17 June), will give investors 90% of the funds' NAV determined on 25 February 2021, and will be open until 31 July. UBS said it will take a $900m provision in the second quarter of 2024 to repay investors which, according to the bank, will not affect its financial results or CET1 capital. UBS appoints head of UK wealth management "The offer aims to give fund investors certainty...
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