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Credit Suisse ‘remains a seller’ as cash weightings are raised

Credit Suisse’s multi-manager team have increased the cash weighting across the entire fund range.

Cash positions are now into double figures across the range, up to a maximum of 24 per cent on the multi-asset growth fund.

Head of multi-manager Graham Duce says the group remains a seller, given the market outlook and fears that December could also be a difficult month.

He says: “We have raised cash through selling the ishares exchange traded fund we have been making use of recently having raised the exposure after cutting our assets with BlackRock’s UK absolute alpha fund. The trend has been to use ETFs on weaker days in the market and it has been a system that has borne fruit for us in recent weeks.”

The multi-manager team are continuing to retain their cautious stance over opportunities in the credit market.

Vice-president of multi-manager portfolios Scott Spencer says: “While we are hearing from many bond managers that this is a once-in-a-lifetime opportunity, credit spreads are widening and greater opportunities may arise in future. We use BlueBay Asset Management, a fixed income specialist which works largely with hedge funds.”

Duce says the firm has been moving away from UK funds recently. For example the 120m constellation fund now has a greater exposure to Japan at 16.3 per cent than the UK at 10.5 per cent).


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The structured product industry has hit back at Hargreaves Lansdown chief executive Peter Hargreaves for suggesting that providers are only ever interested in making a profit.

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Copious column inches over the past weeks and months have attempted to explain the reasons for the financial crisis, assess just how long it might last, chart the way out and, of course, speculate over what the catalysts might be to allow this improvement to occur. For our part, we certainly are in no doubt that the current situation facing economies, their governments, fund managers, financial advisers and clients alike is arguably the most serious in a generation.

Auto enrolment – so far so good?

Jamie Clark – Business Development Manager The recent report from the Pensions Policy Institute demonstrates the sheer scale of auto-enrolment so far and what we can expect in the future. We’ve pulled out the key information to save you reading the full report. Auto enrolment in numbers Sources: Pensions Policy Institute, The Future Book: Unravelling […]


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