UK Fund Claims Its Risk Procedures Warned Of Morgan Grenfell Danger

MANAGEMENT & OPERATIONS

OFFICIALS at Premier Investment Group, a UK-based investment company, say they withdrew their funds from Morgan Grenfell Asset Management's ill-fated European Growth fund long before news of the recent trading scandal broke. Risk-adjusted performance guidelines and risk assessment software played a key role in this decision, they add.

Morgan Grenfell hit the headlines earlier this month when UK regulators launched an investigation into the bank's fund management operations.

The bank dismissed

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