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Press Release
Boutique Managers Drive Credit Suisse Performance
Since launch Credit Suisse's Fund has outstripped its sector by more than double
London, May 22, 2006 The Credit Suisse Multi-Manager Constellation Fund, which is 'AA' rated by Standard & Poor's and OBSR, has achieved consistent top quartile performance since its launch in August 2001. The Fund has reported a 90.56% return against a sector average of 73.26% in the last three years.
Commenting on the investment approach and performance of the Fund, Gary Potter, Director of Credit Suisse Multi-Manager Services said; "The Credit Suisse Multi-Manager Constellation Fund's assets are spread across a range of regions and sectors. The Fund invests in boutique funds and the key aim is to align the interests of fund managers with its investors so that the Fund delivers strong returns in both bull and bear markets.
"The Fund is well diversified, but it is the performance of the boutique funds rather than asset allocation that is the first factor we consider. The Fund typically invests in over 20 funds and we look for funds that we feel will achieve capital growth."
The Fund has approximately 20% in UK equities; 17.7% in European equities; 15% in North American equities; 13.9% in Japanese equities; 13.2% in specialist sectors; 11.6% in Asian equities; 6.9% in emerging market equities and 1.7% in cash.
Gary Potter continued: "We have maintained a well diversified portfolio of funds focusing on three main types of underlying funds: those from boutiques by name, those from boutiques by nature, and those from boutique umbrella businesses. The Fund may also invest directly in other collective investment schemes. In addition, the conversion of the Credit Suisse Multi-Manager range to the NURS structure in April of this year has given the team even greater flexibility in the context of fund selection."
Source of performance: Lipper Hindsight 5, period to 28 April 2006, total return, bid to bid, net income reinvested. Past peformance is not a guide to future returns.
Enquiries:
- Lisa Goddard, Director/Marketing Communications, Tel. +44 (0) 207 426 2992
- Claire Burston/Leone Lewis, Penrose Financial, Tel. +44 (0) 207 786 4886
- Credit Suisse
- As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 40,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CSR), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com
In its asset management business, Credit Suisse offers products across the full spectrum of investment classes, ranging from equities, fixed income and multiple-asset class products, to alternative investments such as real estate, hedge funds, private equity and volatility management. Credit Suisse's asset management business manages portfolios, mutual funds, and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 18 countries, Credit Suisse's asset management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
CREDIT SUISSE ASSET MANAGEMENT FUNDS (UK) LIMITED is authorised and regulated by the Financial Services Authority. The asset management business of Credit Suisse is comprised of a number of legal entities around the world that are subject to distinct regulatory requirements; certain asset management products and services may not be available in all jurisdictions or to all client types. This communication is intended only for investment professionals.
Notes to editors
Credit Suisse's six strong Multi-Manager Team is headed by Gary Potter and Robert Burdett who have worked together for close to ten years. The Team shares 70 years of investment industry experience with total onshore and offshore advisory assets in excess of GBP 1 billion as at 17 May 2006. Credit Suisse is the third largest retail provider of multi-manager products in the UK.
The Team won the prestigious 'Multi-Manager Group of the Year' category of the Professional Adviser Awards in January 2006. They won the prestigious 'Best Research' and 'Best Cautious & Income' categories at the Real Adviser Multi-Manager Awards in October 2005. The Team was also shortlisted for the 'Best Multi-Manager Group' and the 'Best Specialist' Awards.
The Credit Suisse Multi-Manager fund of funds range is available through intermediaries as well as through the Cofunds, FundsNetwork, Selestia, Transact, American Express, Trustnet and Abbey platforms. The CS Multi-Manager Equity Managed, Cautious Managed and Constellation Funds are also available through Skandia and to Investment Bond and Pension investors through Winterthur Life. The CS Multi-Manager Cautious Managed and Constellation Funds are available to life and pension investors through the Standard Life sigma bond and pension product.
Three of the actively managed funds: Credit Suisse Cautious Managed, Constellation and Equity Managed Funds have been 'AA' rated by Standard & Poor's for the last year. OBSR has also awarded six 'AA' and two 'A' ratings to the Multi-Manager Funds, reflecting their high degree of confidence in the Team.
Standard & Poor's Fund Management Ratings
Standard & Poor's Fund Management Ratings are based on an evaluation of quantitative (historic performance, volatility and portfolio construction) and qualitative (management, corporate status and investment process) factors that contribute to long term performance. 'AAA' The fund demonstrates the highest standards of quality in its sector based on its investment process and management's consistency of performance as compared to funds with similar objectives. 'AA' The fund demonstrates very high standards of quality in its sector based on its investment process and management's consistency of performance as compared to funds with similar objectives. 'A' The fund demonstrates high standards of quality in its sector based on its investment process and management's consistency of performance as compared to funds with similar objectives.
OBSR
Old Broad Street Research Ltd (OBSR) is an independently owned research and consultancy company that specialises in providing qualitative investment research and product analysis to financial intermediaries, life offices and investment houses. The 'AAA' Rating is an indication of excellence. The 'AA' Rating is an indication of highly superior quality based on process and track record. A fund which achieves the 'A' Rating is a highly commendable one.
The use of independent ratings are not a recommendation to buy and are not a guide to future returns.
