Swisscentric crisis sees Swiss franc lose favour
Investors shelter elsewhere, boosting gold, yen, bonds
Swissie risk concentrated in Swiss economy analyst
Swiss franc39;s days as investment refuge are not over
But currency is not an 39;allweather39; haven strategist

LONDON, March 24 Reuters The Swiss franc hasn39;t lived up to its safehaven reputation during the Credit Suisse collapse, as investors have sought shelter elsewhere, bringing more of a boost to the value of the gold in Switzerland39;s bullion vaults than to its currency.

Money managers ditched the Swiss franc at the fastest rate in two years last week in the runup to the dramatic takeover of Credit Suisse by UBS.

The Swissie, often used as a refuge in times of market stress or volatility, lost 0.9 against the dollar in the week after the Swiss finance department said regulators were closely monitoring the situation at Credit Suisse on March 13.

In that same time, Japan39;s yen, which is also seen as a refuge in times of tumult, rose 2.6 against the dollar.

Gold , another traditional safe haven, rose over 5 in the week after March 13 to above 2,000 an ounce, its highest in over a year, while government bonds , saw some of their biggest inflows in decades.

It definitely is to do with developments in the banking sector, said Kirstine KundbyNielsen, FX analyst at Danske Bank, on why the franc wasn39;t stronger.

You still have some of the safehaven hedging properties in the Swiss franc but it can…