The global exposure of mutual funds to debt securities issued by BES and GES groups decreased by 12% between June and July, from EUR 214 million to EUR 187.6 million, revealed this Thursday the Commission of the Securities Market Commission (CMVM).
The descent, according to the CMVM, resulted “from the devaluation of assets” and “dispositions” that debt.
The communiqué states that the supervisory authority was transferred to the New Bank (the statement of 5 August ) a total of EUR 136 million of debt issued by BES Group, a total of € 180.6 million of debt issued by BES Group.
According to the CMVM, the 241 funds securities domiciled in Portugal, 71 were exposed to BES and GES.
The total exposure of those funds to assets issued by BES and GES group, including debt and equity, is higher, amounting to 204.8 million of euros (1.6% of total assets under management).
This total value of assets of EUR 1.2 million related to BES shares and EUR 15.9 million are related to actions of ES Health and ESFG. The remainder consists of debt issues of the BES and GES group (ESFG Forte Rio and ESFIL)
The 241 securities investment funds domiciled in Portugal Tinam an overall net value under management of around 12,633 million euros to 31 July.
The information now disclosed by CMVM is exceptional that the CMVM justified with “extraordinary situation experienced in the Portuguese financial market.”
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