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Shareholders approve CSAM MM changes

Shareholders in Credit Suisse’s multi-manager funds have given their approval for the group to consolidate its range and introduce a multi-asset diversified fund.

Last month the group announced it planned to streamline its multi-manager range following poor take of its regional funds.

Fund managers Graham Duce and Aidan Kearney are set to merge the European, North American and Japanese multi-manager funds into its international portfolio, while the Asia Pacific fund will be rolled into the emerging markets fund after the four consolidated vehicles attracted only £75m since their launch in August 2001.

The team is also planning to relaunch its £15m global bond portfolio as a multi-manager diversified fund, which will also include exposure to hedge funds and property.

Credit Suisse co-head of multi-manager Graham Duce says: “In today’s markets where equities have enjoyed a consistent bull run and we’ve seen volatility on the increase, we believe that now is the time to be launching a multi-asset class investment fund. Our fund is poised to handle future market changes by having the ability to diversify by exploiting investment opportunities across those asset classes. For investors it also provides competitive and steady income and exposure to additional investment expertise at Credit Suisse.”

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