Credit Suisse Asset Management is launching multi-manager funds alongside
its private portfolio service which opened for business this week.
The three fund of funds allow Pep transfers and Isas. The balanced
strategic fund will hold up to 20 funds as a lower-risk Fof in Autif's
cautious managed sector, with up to 60 per cent in equities and the rest in
fixed interest. The UK strategic growth fund will hold up to 30 funds, with
at least 50 per cent in the UK. It will aim to invest entirely in equities
and will be a medium-risk fund in the active managed sector.
Constellation will be a fund of boutique-style funds, investing in the
likes of Liontrust, Odey Asset Management and Thames River Capital. In the
global growth sector, it will be a more aggressive investment, holding
around 20 to 35 funds.
All three will have a minimum investment of £1,000, initial charge of
4 per cent and annual 1.5 per cent. Commission is 3 per cent initial, with
0.5 per cent renewal.
Director Gary Potter, who will manage the funds with director Rob Burdett,
says: “I hope we can achieve most solutions for most people.”