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Suisse set for multi-asset growth fund

Credit Suisse is looking to add to its multi-manager range with the launch of a multi-asset growth fund, Money Marketing understands.

It is understood the growth fund, which will come to market in June subject to FSA approval, is leveraged off a private client offering and will be placed in a wrapper to operate in the retail sector.

The growth fund will have 20 to 30 underlying holdings, with investments placed in three silos.

Core balanced will cover 50 per cent of the fund and will largely comprise traditional equity and fixed income offerings while 30 per cent in satellite holdings around this will invest in more alternative products, a number of which will have some downside protection.

A tactical overlay of 20 per cent is designed to offer more dynamism, with the managers able to double their current holding in areas or place the 20 per cent in cash.

Credit Suisse launched a distribution fund in July 2007, marking the first addition to the range since new co-heads of multi-manager Graham Duce and Aidan Kearney took over the £1bn range in April 2007.

Unlike the distribution fund, the growth offering will not have a constraint of achieving an indicative yield of 5 per cent a year.

It is also understood that Credit Suisse has plans to merge its £10m incubator fund into the multi-asset growth fund following a slowing in demand for the vehicle since its launch in July 2005.

Credit Suisse says: “We have a proposal with the FSA with regard to the development of a new Credit Suisse multi-manager fund, however, we are not in a position to confirm details.”


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