Bloomberg: Mutual Fund "Frankfurt Trust" Halts Redemptions at Fund Amid Subprime Concern

Frankfurt Trust Halts Redemptions at Fund Amid Subprime Concern

[link to www.bloomberg.com]
By Aaron Kirchfeld

Aug. 6 (Bloomberg) -- Frankfurt Trust, the mutual fund manager of Germany's BHF-Bank, stopped withdrawals from a fund after clients removed 20 percent of their money since the end of July amid concern about the U.S. subprime loan debacle.

The FT ABS-Plus fund, which includes residential mortgage- backed securities and collateralized debt obligations, halted redemptions on Aug. 3, the Frankfurt-based company said today. The 160 million-euro ($221 million) fund has a ``small exposure'' to subprime investments, spokesman Holger Ullrich said.


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Last Edited by SHR on 09/27/2011 11:03 AM