Credit Suisse Saw $4.4 Billion Fund Outflows Since UBS Deal
A tram travels by the Credit Suisse headquarters in Zurich.
Photographer: Stefan Wermuth/BloombergThis article is for subscribers only.
Credit Suisse Group AG saw clients pull $4.4 billion from US and European funds since the lender agreed to be acquired by rival UBS Group AG last month, with recent inflows suggesting the worst of the bleeding may be over.
Credit Suisse’s European funds suffered $3.8 billion in net redemptions between March 20 and April 6, while US funds saw another $575 million out the door, according to data from Morningstar Inc. The figures only include funds that report daily numbers and don’t represent the full universe of Credit Suisse asset management.