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Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens


Credit Suisse Freezes More Supply Chain Finance Funds as Greensill Scandal Widens
Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire.
The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor update on its website dated March 9. ....

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Credit Suisse Freezes $1 Billion of Funds as Scandal Widens

(Bloomberg) Credit Suisse Group AG froze four more funds that invested in the bank’s $10 billion supply chain finance strategy, adding to the widening scandal surrounding the bank’s exposure to Lex Greensill’s failed empire. The additional funds have about $1.2 billion in assets, some of which they had put into the four Greensill-linked funds that Credit Suisse is now liquidating. The bank suspended them effective March 1, the same day it froze the supply chain finance strategy. It posted the decision in an investor update on its website dated March 9. The largest of the additional funds are the $701 million Credit Suisse (Lux) Multi Strategy Bond Fund and the $303 million Credit Suisse (Lux) Multi Strategy Alternative Fund. Their suspension compounds a crisis that’s forced Credit Suisse to seek outside help to deal with regulators’ queries and threatens to saddle the bank with losses from a loan that it made months before the collapse of Greensill’s empire. For Chief Exe ....

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AXS Multi-Strategy Alternatives Fund (KCMTX) Wins 2021 SMArtX Award for Best Risk-Adjusted Returns


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NEW YORK, March 5, 2021 /PRNewswire/  AXS Investments, a leading alternative investment manager, today announced the firm has been named winner of the SMArtX 2021 Award for the Best Risk Adjusted Returns – Alternatives for its AXS Multi-Strategy Alternatives Fund (KCMTX) strategy.
Winners were chosen from among 725 strategies available on the SMArtX Advisory Solutions platform based on annual performance data for the period ending 12/31/2020. AXS Investments Multi-Strategy Alternatives competed against over 30 alternative investment strategies and was recognized for achieving the best alternatives risk-adjusted return.
We re thrilled to have earned this distinguished recognition for our multi-strategy alternatives solution for investors, said Greg Bassuk, Chairman and CEO of AXS Investments. With a very strong and nearly thirteen-year live performance track record, our multi-alternative strategy has shown its consiste ....

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