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Credit Suisse ventures out

Credit Suisse Asset Management is to launch its first UK -based themed fund next month to invest in the US post-venture capital market.

The Global Post-Venture Capital fund will mirror CSAM&#39s existing US-based Global PVC fund. Launched four years ago, the fund invests in firms founded with venture capital which have matured into a secondary growth stage.

The new Oeic, which is still subject to FSA approval, will be managed from CSAM&#39s New York office by its 26-strong investment team which manages over $4bn (£2.86bn) of PVC securities.

Managing director Ian Chimes says: “We are launching this fund because investors have shown an appetite in the last 12 months for technology and biotech. Themed funds are becoming a lot more popular and exciting for investors.”

Plan Invest director Michael Owen says: “There are definitely some very exciting opportunities in the post-venture capital stages. Having said that, this is likely to be a higher- risk fund than some of the more conventional on the market.”


A Consumer&#39s view

Money Counts, the FSA&#39s new initiative to teach personal finance in primary schools, is a very welcome step in the right direction. One aspect of the educational system which has been sadly lacking for many decades is its effectiveness in equipping children to deal with the practicalities of life.The Money Counts book marks the introduction […]

Life offices scrap their pledges on bond MVAs

Leading life offices have ditched their guarantees not to apply a market value adjuster on the 10th anniversary of their with-profit bonds due to fears they cannot afford to back them financially.The life offices dropping the guarantee include Royal & Sun Alliance and Scottish Mutual, with industry experts predicting this could set a trend.Royal & […]

Tax Planning – Special delivery

In recent columns, I have been expanding on my view that, increasingly, the role of financial advisers and, thus, product providers distributing through advisers, is to offer complete solutions to people&#39s financial needs rather than just products.Last week, I began to consider how financial management groups, in particular, can play their part in making a […]

M&E picks five for pension

Network M&E has finalised a stakeholder panel of five, with CGNU, Friends Provident, Scottish Equitable, Scottish Mutual and Standard Life winning places.Pension development manager Stuart Fairburn says the companies were chosen for the marketing support they can give members as well as for technology compatibility.He insists that commission “did not come into it”.Fairburn says the […]

Greg Broomer 2

Survey looks at the challenges facing businesses post auto-enrolment

A survey conducted by Johnson Fleming at the Pension & Benefits Show 2014 highlighted the key challenges faced within organisations post auto-enrolment. The results showed that communicating the changes and the value of them to staff, and receiving timely data from the payroll provider proved to still be the most challenging aspects of managing an auto-enrolment scheme.


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