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Credit Suisse Asset Management changes strategy after US attacks

Credit Suisse Asset Management says it has made a tactical changes to its Income and Monthly Income funds in light of the terrorist attack on America on September 11.

It has increased the “BETA” of the two funds which involves buying lowly rated economically sensitive stocks or highly rated growth stocks whose multiple has collapsed in the last 18 months.

Credit Suisse fund manager Bill Mott says: “After the New York terror I believe the governments and central banks will act very aggressively by flooding the system with liquidity and aggressively cutting interest rates.”

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The Daley Update

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