Swiss Life strives to always offer the best-possible service. We use cookies on our website to enhance your experience and make ongoing improvements. By continuing to browse the site, you are agreeing to our use of cookies.

Swiss Life/Rentenanstalt realises gains of CHF 554 millions from the sale of participations

24.05.2002

Swiss Life/Rentenanstalt sold on Thursday a 23.5% share in RMF Investment Group to MAN Group. This transaction is part of a general reorganisation of the insurer’s hedge fund activities. From the proceeds of the sale, as well as a reduction of its SGS stake, Swiss Life/Rentenanstalt will realise a gain of around CHF 554 millions.
Swiss Life/Rentenanstalt had already announced at the beginning of May 2002 its intention to sell its stake in Swiss Life Hedge Fund Partners to RMF Group, in a move to rationalise its hedge fund and leveraged finance activities. Separately, RMF Group announced on Thursday a merger with British company MAN Group. As part of this transaction, Swiss Life/Rentenanstalt sold its 23.5% stake in RMF to MAN Group. From the sale of its hedge fund participations, Swiss Life/Rentenanstalt will realise a gain of CHF 329.6 millions.

As part of its strategy to reduce the equity portion of its investment portfolio, further decreasing its exposure to equity market volatility, Swiss Life/Rentenanstalt has reduced its stake in Société Générale de Surveillance, SGS from 16% to below 5%. The resulting sale of shares will enable Swiss Life/Rentenanstalt to realise a gain of CHF 224 millions.
loading
×