Entity: St. Galler Kantonalbank's (SGKN.EB) private Hyposwiss bank Exposure: $50 million, roughly 0.1% of its overall assets, was invested in Madoff products through managed accounts. Another $100 million is exposed through clients invested in Madoff funds. Date of disclosure: Dec. 18 Notes: St. Galler Kantonalbank first announced the exposure on Dec. 15 and said its financial situation and liquidity aren't hurt by Hyposwiss' exposure. Hyposwiss said Dec. 18 that 25% of of 2,000 clients at its Geneva branch had products sold by Madoff in their portfolios. Entity: Yeshiva University Exposure: $110 million invested with Ascot Partners LP. Date of disclosure: Dec. 18 Notes: Yeshiva had no direct investment but 8% of its endowment was invested for 15 years with Ascot Partners LP, which had "substantially all its assets invested with Madoff," a letter sent by the university said. Madoff was also on the school's board but has resigned. Entity: Banco Espirito Santa SA (BES.LB) Exposure: EUR15 million indirect exposure Date of disclosure: Dec. 17 Notes: The amount represents about 0.1% of assets under management. Entity: Credit Industrial et Commercial SA (12005.FR) Exposure: EUR90 million Date of disclosure: Dec. 17 Notes: The bank has no direct exposure to Madoff but could be affected through an intermediary. Entity: Genevalor, Benbassat & Cie. Exposure: n/a Date of disclosure: Dec. 17 Notes: Genevalor distributes the Thema fund family. An investor document for one Thema fund shows a return-on-investment chart that corresponds closely to Madoff's performance. A summary of the fund's investment strategy describes a process consistent with Madoff's activity. Genevalor said in a statement on its Web site that it "has been reviewing the potential damages caused to its clients" by the alleged Madoff fraud. A statement from the Thema fund said it had assets with Madoff that were now frozen. Entity: Great Eastern Holding Ltd. (G07.SG) Exposure: S$64 million through some Fairfield Greenwich funds Date of disclosure: Dec. 17 Notes: Great Eastern said S$7.7 million of its exposure is invested from shareholder funds and S$56.3 million is from its Life Fund. The total represents 0.14% of the group's total assets as of Sept. 30. Great Eastern is 87% owned by Oversea-Chinese Banking Corp. (O39.SG). Great Eastern's Lion Global Investors unit separately invested S$350,000 in one Madoff- related fund. Entity: M&B Capital Advisers Exposure: Private clients have more than EUR37 million in exposure Date of disclosure: Dec. 17 Notes: The firm is run by the son and son-in-law of the chairman of Banco Santander SA (STD), which disclosed nearly EUR2.33 billion in Madoff exposure. Through M&B, private and institutional investors bought more than EUR150 million in Madoff's funds. Entity: Phoenix Holdings Ltd. (PHOE1.TV) Exposure: Up to ILS48 million ($12.6 million) Date of disclosure: Dec. 17 Notes: Phoenix's insurance unit invested $15 million over the last three years in funds managed by Thema, which made investments through Madoff. In November, the company requested to redeem $10 million. The payment was due Dec. 12 but Phoenix hasn't received it. Entity: Royal Dutch Shell (RDSB.LN) pension fund Exposure: n/a Date of disclosure: Dec. 17 Notes: The pension fund fund has an indirect investment that may be affected. The fund originally invested $45 million. The alleged fraud won't affect the financial position and funding status of the fund. Entity: Stanley Chais Exposure: n/a Date of disclosure Dec. 17 Notes: The money manager managed investments he called "the arbitrage partnerships," according to investors and firm correspondence. Chais's foundation, which focused on Jewish causes and gave about $12 million annually to Israeli projects (including Bina and Melitz), will be closing. A lawsuit was filed on behalf of individuals who invested through Chais or his Brighton Co. Entity: Aioi Insurance Co. (8761.TO) Exposure: Y100 million Date of disclosure: Dec. 16 Notes: Aioi said it didn't make a direct investment in the Madoff fund. Entity: Ascot Partners LLC Exposure: Substantially all of $1.8 billion in assets (figure as of Sept. 30) were invested with Madoff Date of disclosure: Dec. 11 Notes: A lawsuit was filed against Ascot, J. Ezra Merkin and auditor BDO Seidman Dec. 16. Entity: Baloise Holding AG Exposure: around $13 million Date of disclosure: Dec. 16 Notes: n/a Entity: Carl Shapiro Exposure: $545 million Date of disclosure: Dec. 16 Notes: The amount includes $145 million invested through the Carl & Ruth Shapiro Family Foundation. Entity: Credicorp Ltd. (BAP) Exposure: Up to $4.5 million Date of disclosure: Dec. 16 Notes: Credicorp's Atlantic Security Bank unit has $1 million in direct exposure and up to $3.5 million in potential contingencies "related to transactions secured by these investments."

Publié le 26 Décembre 2008 Copyright © 2008 Dowjones