Wealthy investors up in arms over AIG bond redemptions

Friday 19 September 2008 at 17:45

Wealthy investors are demanding an urgent response to requests to redeem cash from a £5.8bn (€7.3bn) money market fund managed by troubled US insurer AIG.

AIG has suspended redemptions from the fund, AIG Premier Bond, following recent problems, which culminated in the rescue of the insurer by the US government. AIG is promising to provide information on the way cash will be returned on an ordered basis in the near future.