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Credit Suisse Enters Nordic Mutual Fund Market

Jason Gorringe, Tax-News.com, London

31 January 2001

Credit Suisse Asset Management (CSAM), the asset mananagement and mutual fund arm of Credit Suisse Group, is to bring its mutual funds to the Scandinavian market. CSAM has just registered four Luxembourg-based fund umbrellas to mark its entrance into Northern Europe, which is the last area for CSAM to conquer, having a long-established mutal fund business in the rest of Europe.

CSAM is now registered in Sweden, Norway and Finland and the development demonstrates that the Nordic countries are moving away from locally-based asset managers and gravitating towards the wider range of investment vehicles offered by alternative providers. Credit Suisse will not actually have Scandinavian offices but will operate its mutual fund business in the region from London and Luxembourg.

Richard Kunzer, CSAM's head of fund sales for the Nordic countries, commented: 'As one of the fastest developing mutual fund markets in the world, the Scandinavian region is of great importance to us'.

The four fund families, which include equity, bond, index tracking and portfolio and lifestyle investing components, are made up of 58 subfunds. CSAM will conduct a series of seminars across the region to introduce the ranges. The funds will have both a retail and institutional share class. Plans are afoot to join up with key distributors of mutual fund products in the Nordic market.

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