Credit Suisse Launches Asia-Focused Fund

by Carla Johnson, Investors Offshore.com

18 November 2003

Credit Suisse Asset Management announced last week that it has launched a new fund investing across a range of Asia-Pacific equity and fixed income assets.

According to CSAM, it is hoped that the fund's flexible strategy, which will allow it to invest up to 100% of assets in bonds or equities at any one time, will enable it to achieve positive returns in all market conditions.

Although the initial asset allocation figures have yet to be confirmed, the fund's product manager, Martin Fricker announced last week that:

"The market has recently performed well and in the short term we will gear the fund more to bonds to be on the safe side. However, as we expect the market to perform well in the long term the fund will be more geared towards equities."

The annual management fee for the Luxembourg-domiciled fund is 1.9%, with the performance fee set at 10% of any daily positive difference of the current net asset value (NAV) of the fund to either the value of the target return or the last highest NAV.

There is no minimum investment, CSAM went on to reveal.

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