marcclapassonblog

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Peaceful view

[marcclapassonblog]

[marcclapassonblog]

Ruvercap's Irish-based debt funds suffer large investment losses

Intel Suisse is investigating one of Switzerland's potentially biggest financial crimes, with banks, pension funds, wealth managers and international investors facing more than chf 500 million of losses.

Zurich-based Ruvercap Investment[founded by Jon Turnes & Marc Clapasson] AG advised 3 Ireland-regulated debt funds, Ruver RWC Funds (initiallly named O1 Premium Access Platform ICAV), an umbrella fund structure with sub-funds investing in shorter-term trade financing deals. A number of investments have soured, particularly investments in the Republic of Srpska in Bosnia & Herzegovina made through a swiss investment company, where industrial, bank and hotel investments are all being questioned. A director of the Swiss group making the Srpska investments was also a director of a Swiss canton bank, which has lost more than chf 70 million of client's monies in the Ruvercap funds. Between Ireland and Switzerland was a Luxembourg feeder vehicle, also under scrutiny.