Bbva Says Getting Out of Alternative Investments

Daily News; White Plains › February 27, 2009

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Summary

MADRID, Spain (Reuters) - Spanish bank BBVA said on Thursday [Feb. 26] that it would close down its alternative investment businesses including hedge funds and would reimburse investors.

"The bank has decided to anticipate the possible effects of the current situation of markets and of the alternative investment industry via an orderly exit in order to safeguard the interests of investors and of the bank itself," BBVA said in a statement.

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Extract

Bbva Says Getting Out of Alternative Investments

BBVA said it would mo...

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