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Credit Suisse looks to merge Artemis funds into its range

Credit Suisse is planning to restructure the Artemis fund of funds range it bought last month.

It will be carried out in two phases following consultation with intermediaries who have clients invested in the funds.

Phase one will begin on completion of the sale on April 29. Subject to regulatory approval, the Artemis Premier funds umbrella will be renamed the Credit Suisse Premier funds.

The individual portfolios will be renamed CS Premier fund of funds portfolio growth, conservative, UK growth, UK equity income, balanced, fixed interest, international growth and ethical.

During the second phase, which is scheduled to complete in the autumn, Credit Suisse will combine the CS and Artemis fund ranges, subject to regulatory and unitholder approval.

Four former Artemis funds will be merged into existing Credit Suisse multi-manager funds due to overlaps, both in the sectors they appear in and the underlying funds they invest in.

The funds affected are the growth portfolio, conservative portfolio, UK growth portfolio and UK equity income portfolio. Four remaining funds will become part of the CS multi-manager range.

Joint head of multi-manager Gary Potter says: “Looking at both Artemis’ funds and our multi-manager product range, it is clear that there are some strong similarities between the two, not only in the fund range but in the underlying holdings. It makes sense to merge some of the funds into our current range.”

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