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Topic started on 8-11-2008 @ 02:41 PM by leo123
www.marketwatch.com...{3F275626-BD4E-429D-8C7F-79625F2C1F2F}

Sign of the times ...

What this means is if you own it, you can't get out.

"SAN FRANCISCO (MarketWatch) - Swiss bank Credit Suisse Group said Saturday that it is shutting down a bond fund and its subfunds after their value was crushed by the global financial crisis, according to a published report.

The bank said it will close the CS Bond Fund (Lux) Target Return because the lack of liquidity in the market has made it impossible to sell assets to meet redemption requests, Reuters reported.

"In the course of the last days and weeks investors have significantly sold assets in a flight to liquidity. The volume of redemptions has meant that many subfunds have become too small to operate on practical and economic terms," Credit Suisse said in a statement."


reply posted on 8-11-2008 @ 04:06 PM by leo123

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