off-the-wire

Credit Suisse managed funds see over $200 mln in net outflows this week - Morningstar

Kitco Media
By Reuters
Published:
Updated:
Reuters
By Nell Mackenzie LONDON, March 17 (Reuters) - Credit Suisse saw more than $200 million net outflows from its U.S. and European managed funds after March 13, Morningstar Direct said on Friday.


Over 300 funds managed by the Swiss bank had an estimated net inflow of $14 million reported on March 13. But by March 14 the net total amount of money taken out and flowing into these funds was negative by $205 million, said the data provider.


Data after March 15 was yet to be collected and not all of Credit Suisse funds report daily, Morningstar said. The data included open-end funds and exchange traded products, it said.


Credit Suisse clinched an emergency central bank loan of up to $54 billion to shore up its liquidity this week and its shares have tanked.
(Reporting by Nell Mackenzie; editing by Dhara Ranasinghe)

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