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Credit Suisse puts its faith in Nasdaq

Credit Suisse Asset Management is throwing caution to the wind with a new foray into the technology media and telecommunications (TMT) market.

The global TMT fund is an open ended investment company (Oeic) that will aim for long term capital growth by investing in the TMT market. Credit Suisse will identify the best growth prospects in specialist subsectors, including semiconductors, Internet services, fibre optics and biotech.

Some of the companies that the Oeic will invest in will include Vodaphone, AOL-Time Warner, AT&T, Nokia, Sony, Microsoft and Samsung.

Credit Suisse believes that the recent slump in the TMT market has driven prices down to cheaper and more realistic levels, and that now is a good time to buy, especially as the Oeic will invest into a wide range of subsectors in the TMT market.

According to Standard & Poor’s the Credit Suisse growth fund is ranked 33 out of 233 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years to January 15, 2001.

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