Morningstar raises red flag over H20

摘要

natixis investment managers has defended a fund run by its affiliate H20 Asset Management, after research firm Morningstar raised concerns over the "appropriateness and liquidity" of the fund's corporate bond allocation. Mara Dobrescu, a fund analyst at Morningstar France, said there were concerns relating to "highly illiquid bonds issued by several business ventures backed by German entrepreneur Lars Windhorst". Morningstar placed global macro fund H20 Allegro, which has €2.3bn in assets, "under review" on Thursday after the Financial Times reported on Tuesday that H20 has large holdings of illiquid bonds linked to Windhorst.