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Credit Suisse outflows more than $450 million from Western investment funds | Reuters

A net outflow of more than $450 million from the 13th to the 15th from the US and European funds of the Swiss financial giant Credit Suisse, whose stock prices have fallen due to financial instability, Morningstar said on the 17th. I found this out through direct research. (2023 REUTERS/Denis Balibouse)

[ロンドン 17日 ロイター] – A net outflow of more than $450 million from the 13th to the 15th was reported from the US and European funds of the Swiss financial giant Credit Suisse, whose stock prices fell due to financial instability, on the 17th . I was informed by Star Direct.

More than 300 European funds managed by Credit Suisse had net inflows of just over $14 million on Friday, but turned to net outflows of $205 million on Tuesday, according to Morningstar Direct. More than $211 million flowed out on Friday.

In the US, more than 20 funds withdrew $22,000 on the 13th. The outflow widened to $20 million on the 14th and $29 million on the 15th.

Data after the 15th have not yet been collected. Morningstar Direct says that not every fund reports its funding status every day.

Credit Suisse said in its 2022 annual report released on Wednesday that it had identified “significant weaknesses” in its internal controls over financial reporting. On the 15th, the stock price fell after the Saudi National Bank (SNB), the largest shareholder, announced that it could not make an additional investment. Credit Suisse announced on Wednesday that it would exercise its option to borrow up to 50 billion Swiss francs from the Swiss National Bank.