List Of Entities Announcing Exposure To Madoff Investments-5-
January 08 2009 - 2:45PM
Dow Jones News
Entity: Bramdean Alternatives
Exposure: 9.5% of portfolio invested in Madoff funds
Date of disclosure: Dec. 15
Notes: Investments were in Madoff's Defender and Rye Select Broad Market XL
Portfolio.
Entity: Clal Insurance Enterprises Holdings Ltd. (CLIS.TV)
Exposure: ILS12 million, or $3.1 million
Date of disclosure: Dec. 15
Notes: n/a
Entity: CNP Assurances (12022.FR)
Exposure: No direct exposure; indirect exposure of EUR3 million via a fund
of funds
Date of disclosure: Dec. 15
Notes: n/a
Entity: Credit Agricole S.A. (4507.FR)
Exposure: Less than EUR10 million
Date of disclosure: Dec. 15
Notes: n/a
Entity: Credit Suisse (CS)
Exposure: "No material direct exposure"
Date of disclosure: Dec. 15
Notes: Credit Suisse is reviewing if any client funds affected.
Entity: Dexia S.A. (DEXB.BT)
Exposure: No direct investments; private banking clients have EUR78 million
exposure to funds primarily invested in Madoff funds. Dexia has gross
EUR164 million indirect exposure through partially collateralized lending
operations to funds exposed to Madoff funds.
Date of disclosure: Dec. 15
Notes: If the value of the assets managed by Madoff Investment Securities
were nil, the above mentioned lending operations could trigger an after tax
loss of about EUR85 million for Dexia.
Entity: EIM SA
Exposure: $230 million
Date of disclosure: Dec. 15
Notes: n/a
Entity: Fortis (NL) NV (30086.AE)
Exposure: Up to EUR1 billion
Date of disclosure: Dec. 15
Notes: n/a
Entity: Groupama S.A.
Exposure: Less than EUR10 million
Date of disclosure: Dec. 15
Notes: n/a
Entity: Harel Insurance Investments & Financial Services Ltd. (HARL.TV)
Exposure: ILS55 million
Date of disclosure: Dec. 15
Notes: n/a
Entity: Jewish Community Foundation of Los Angeles
Exposure: $18 million via Common Investment Pool
Date of disclosure: Dec. 15
Notes: Investment represents less than 5% of foundation's assets.
Entity: KBC group NV (KBC.BT)
Exposure: No direct exposure; some indirect exposure through collateralized
loans, but the exposure is very limited and immaterial to KBC's earnings.
Date of disclosure: Dec. 15
Notes: KBC has also made some loan advances to institutional customers who
have invested in funds managed by Madoff Investment Securities, but this
shouldn't have any material impact either, the company said.
Entity: Man Group PLC (EMG.LN)
Exposure: $360 million
Date of disclosure: Dec. 15
Notes: Invested in funds directly and indirectly sub-advised by Madoff
Securities and for which Madoff acts as broker-dealer. Madoff investment
represents 1.5% of the company's RMF fund-of-funds business's funds under
management and 0.5% of funds under management for Man Group itself.
Entity: Mediobanca SpA (MB.MI)
Exposure: $671,000 via its Compagnie Monegasque de Banque unit
Date of disclosure: Dec. 15
Notes: n/a
Entity: Natixis (12068.FR)
Exposure: Estimated indirect net maximum EUR450 million
Date of disclosure: Dec. 15
Notes: Natixis says it didn't make direct investment in Madoff-managed
funds; some investments made on behalf of customers could have ended up
being managed by Madoff.
Entity: Neue Privat Bank
Exposure: Around $5 million invested in a certificate based on a hedge
fund with exposure to Madoff.
Date of disclosure: Dec. 15
Notes: n/a
Entity: Nordea Bank AB (NDA.SK)
Exposure: EUR48 million
Date of disclosure: Dec. 15
Notes: Exposure is through Fairfield Greenwich's Fairfield Sentry; amount
represents 0.2% of assets under management.
Entity: RAB Capital PLC (RAB.LN)
Exposure: $10 million, according to a person familiar with the situation
Date of disclosure: Dec. 15
Notes: The source said RAB's exposure represents less than 0.5% of assets
under management.
Entity: Royal Bank of Scotland Group PLC (RBS)
Exposure: GBP400 million
Date of disclosure: Dec. 15
Notes: Exposure to Madoff is through trading, collateralized lending.
Entity: Societe Generale SA (13110.FR)
Exposure: Less than EUR10 million
Date of disclosure: Dec. 15
Notes: n/a