'Millions' of small investors affected by Natixis funds' hidden commissions

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A system of hidden commissions on investment funds operated by Natixis Asset Management and sold to small investors in France via the company’s parent bank BPCE is estimated to have creamed off about 100 million euros from unwitting customers. Amid an investigation into the affair by the French financial markets regulator, Mediapart publishes here a hitherto confidential list of the 75 funds involved. Laurent Mauduit reports.

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Last month Mediapart revealed that Natixis Asset Management (NAM) was under investigation by the French financial markets regulator, the l’Autorité des marchés financiers (AMF), which suspects the firm of operating since 2008 a system of hidden commissions on funds sold to clients of its parent bank, Groupe BPCE.