Current news for this fund:

Union Investment Asset Management Holding AG - ABS fund (6% US subprime)


Count of distinct funds: 1

Comment on this article | Subscribe by email!


From the article:

Union Investment Asset Management Holding AG, Germany's third-largest mutual fund manager, halted redemptions from a fund holding subprime mortgages after clients withdrew about 10 percent of the assets in the past month.

Investors redeemed 100 million euros ($137 million) from the 950 million-euro ABS-Invest Fund, spokesman Markus Temme said today. The fund, sold to institutional investors across Europe, has about 6 percent of its assets in securities related to subprime mortgage loans, Temme said.

permalink to this record | forum thread

Comments: Be the first to add a comment

add a comment | go to forum thread

Important: This fund is on our list of hedge funds that have "imploded" (see also ailing lenders). However, please note that "imploded" is a somewhat subjective. The "imploded" list contains hedge funds (or other unregulated and autonomous speculative investment funds) which have gone through some sort of permanent adverse change. This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid mark-downs in net asset value; or abnormal "bail-out" by corporate parents or peers in order to avoid write-downs and provide liquidity. The funds are of any type and sector.