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H20 Asset to reinstate entry fees for some funds

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H20 Asset to reinstate entry fees for some funds
FILE PHOTO: The logo of French bank Natixis is seen outside one of their offices in Paris February 18, 2013. REUTERS/Charles Platiau/File Photo   -   Copyright  Charles Platiau(Reuters)
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(Reuters) – Natixis bank’s <CNAT.PA> H20 Asset Management said http://www.h2o-am.com/en-UK/News/News/Communication-on-entry-fees on Friday an entry fee of up to 5%, which it removed last month after a jump in redemptions, would be reinstated for some of its funds in August and September.

Morningstar, which provides analysis and ratings on funds, raised concerns over H20 after it put the unit under review over its holdings.

Morningstar said H2O held “highly illiquid bonds” issued by several companies related to German entrepreneur Lars Windhorst.

H20 said last month that it has seen big inflows in recent days and redemptions had subsided markedly as the firm aimed to restore investor confidence amid worries about some of its funds’ investments.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Jan Harvey)

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