(Bloomberg) JPMorgan Chase & Co. and Danske Bank A/S funds are among investors exposed to Let’s Gowex SA, the Spanish Internet startup that’s filing for insolvency after saying it falsified accounts for at least four years.
JPMorgan’s Euroland Focus fund had 2.9 percent of its holdings invested in Gowex as of May 31, while the bank’s Europe Focus fund had 2 percent of its portfolio dedicated to the stock, according to the most recently available data on their website. Danske’s Europe Absolute fund had 2.7 percent of its portfolio invested in Gowex as of June 30, data compiled by Bloomberg show.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access