Natixis pushes up audit of troubled fund

26 June, 2019 12:00 AM printer

PARIS: French investment bank Natixis said Monday it had pushed forward a regular audit of an asset management unit that has been hit by concerns over the liquidity of certain of its assets.

“In the context of restoring confidence in H2O Asset Management, Natixis has also decided to bring forward the periodic audit performed on this affiliate, by implementing it as of 21 June 2019,” it said in a statement, reports AFP.

Shares in Natixis plunged nearly 12 percent on Thursday after a story in the Financial Times raised questions of a possible conflict of interest for the chief executive of H2O Asset Management, and investment research firm Morningstar suspended its rating one of H2O Asset Management’s funds, expressing concerns about the illiquidity and appropriateness of some of its assets.