Natixis SA (CNAT.PA)
PARIS/LONDON H2O, one of French bank Natixis' asset management businesses, has sold off some illiquid assets and removed entry fees across its funds as it tries to stem outflows of customer money.
* Forced to mark down value; funds priced at 3-7% discount (Adds aggregated value of non-rated corporate bonds)
PARIS/LONDON Natixis shares fell on Friday, extending heavy losses on fears that one of the French bank's asset management companies H2O could suffer outflows of client cash after ratings agency Morningstar placed one of its funds under review.
* HSBC downgrades Natixis, cautious on outflows (Adds KBW analyst note, Castres resignation from Tennor, fund manager quote)
LONDON Natixis' UK-based asset management division H20 will continue to have a representative on the board of privately-owned German firm Tennor, despite concerns about a potential conflict of interest in some of its holdings.
PARIS, June 21 Shares in French bank Natixis recovered slightly on Friday from heavy losses in the previous session, but analysts said concerns over its H20 fund management arm remained.
June 21 Below are company-related news and stories from French and Benelux media which could have an impact on the region's markets or individual stocks.
PARIS, June 20 French investment bank Natixis defended its UK-based asset management division H2O on Thursday after fund ratings firm Morningstar put the unit under review over its holdings, causing a sharp fall in the French bank's shares.
LONDON, June 20 Natixis' H20 Asset Management chief executive Bruno Crastes said on Thursday liquidity in a fund it manages which has drawn scrutiny from a fund ratings firm is not an issue, and it has plenty of cash on hand.
PARIS, June 20 French bank Natixis defended on Thursday its H2O Asset Management fund division, after a decision by Morningstar to put its rating on H2O under review hit Natixis' shares.