Credit Suisse’s Greensill fund shrinks over 25%

Risky business: The US$1.1bil high income fund is the riskiest among Credit Suisse supply chain vehicles because investors can be directly exposed to the underlying assets with no insurance. —Bloomberg

ZURICH: Credit Suisse Group AG clients pulled more than US$400mil this month from a fund holding short-term corporate loans sourced by Greensill Capital, the firm founded by billionaire financier Lex Greensill.

Assets in the Credit Suisse nova (lux) supply chain finance high income fund fell 27% since the beginning of May, according to data compiled by Bloomberg.