(Bloomberg) --
Natixis SA-backed H2O Asset Management’s chief executive officer Bruno Crastes took his message directly to investors, vowing that he would never freeze investors’ money in his firm’s funds.
In a video from Wednesday and now uploaded to the money manager’s website, Crastes sat alongside chief investment officer Vincent Chailley and said that H2O “never gated and we will never gate”, avoiding comparisons with recent freezes at funds run by Neil Woodford and Gam AG. Both Woodford and GAM were forced to shut the door on investors who were trying to retrieve their money from funds that offered daily liquidity amid a redemption rush.
“We acknowledge that the unfortunate events last week have led to results that are way below your expectations,” Crastes said in the video. “We take it as it is, with no emotions but we will recover and make the most of the situation.”
Read more: H2O Assets Drop a Sixth Straight Day as Money Manager Seeks Calm
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