H2O Investors Pull $503 Million From Funds as Freeze Lifted
- Most of withdrawals were in firm’s Adagio and MultiBonds funds
- Funds were reopened this week after separating illiquid bonds
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Investors pulled 429 million euros ($503 million) from seven H2O Asset Management funds that reopened this week, fleeing the strategies that had contained hard-to-sell assets.
The bulk of the redemptions came from H2O’s Adagio and MultiBonds funds, which shrank by a combined 333 million euros on Thursday, according to data compiled by Bloomberg. All seven funds previously held combined assets of about 8.3 billion euros, according to a statement on H2O’s website Friday confirming the outflows.