About Us Press Release

Press Release

Credit Suisse Asset Management appointed portfolio manager to manage ICECAPITAL Currency Alpha mutual fund in Finland

Credit Suisse Asset Management (CSAM) is pleased to announce that ICECAPITAL Fund Management, the subsidiary of ICECAPITAL Securities, an independent financial group, has appointed CSAM to manage the first mutual fund in Finland investing in currencies.

ICECAPITAL Currency Alpha (Non-UCITS) invests in currency derivatives and seeks to gain performance by actively managing currency exposures mainly in the USD, JPY, GBP, EUR, CHF and AUD.

The ICECAPITAL Currency Alpha (Non-UCITS) is directed towards professional investors and will be launched on May 11, 2005.

Commenting on the appointment, Thanos Papasavvas, Head of Currency Management said:

"During the past few years we have seen an increase in demand for currency management and currency overlay strategies in the Nordic region. CSAM's currency management capabilities aim to provide a consistent source of alpha and we are delighted to be able to offer our currency expertise in Finland through our cooperation with ICECAPITAL and the ICECAPITAL Currency Alpha Fund."

Jyri Viskari, Managing Director of ICECAPITAL Asset Management Ltd said:

"The portfolios of Finnish investors have become international and currency exposures have increased. This development has brought about a clear need to actively address the currency exposure issue. The returns from active currency management do not correlate with equity and interest rate returns - this means that investors will be able to further diversify risks efficiently by allocating risk to active currency managers. Currency risk is the largest risk exposure component in investment portfolios, second only to equity risk."