GE said external investors to redeem the company’s share of bond funds
GUANGZHOU (Fund China) – General Electric (GE) on November 14, General Electric’s enhanced cash fund all external investors withdrew funds, the company before allowing them to share each 0.96 US dollars redemption.
However, the money market fund with a similar fund for holders of other asset-backed instruments suffered losses. The company told investors, is expected to “current market difficulties, including cash flow problem and valuation dislocation, in the foreseeable future will continue.”
The company spokesman said GE asset management sector GEAM Trust Enhanced Cash Fund currently has five billion US dollars of assets, collateralized debt obligation (CDO) or structural investment vector (SIV).
Copyright Fund China 2009.
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