About Us Press Release

Press Release

Credit Suisse’s Asset Management Division Announces New Floating Rate Bank Loan Mutual Fund

Credit Suisse’s Asset Management division today announced the re-launch of the Credit Suisse Floating Rate High Income Fund (the “Fund”), previously known as the Credit Suisse High Income Fund. The Fund is Credit Suisse’s first open end mutual fund offering exposure to floating rate bank loans.

The Credit Suisse Floating Rate High Income Fund will invest in a diversified portfolio consisting primarily of floating rate bank loans to non-investment grade companies and seek to outperform the Credit Suisse Leveraged Loan Index. The Fund, which was previously focused on US high yield investments, may also allocate a smaller portion of its portfolio to other debt securities such as high yield bonds. The Fund will be managed by the Asset Management’s Credit Investments Group (“CIG”), which has USD 16.2 billion in assets under management*.

CIG is one of the largest and most experienced managers in the senior secured loan space. The Fund will rely upon CIG’s research-driven investment philosophy consisting of bottom-up, fundamental analysis of corporate capital structures, with a particular focus on floating rate bank loans.

“Floating rate bank loans have historically provided attractive diversification benefits to fixed income portfolios. They can mitigate rising interest rate risk and provide a hedge against inflation. Considering the current global interest rate environment, we believe that now is an opportune time to invest in the asset class and we are excited to offer our management expertise through an open end fund,” said John G. Popp, Head of the Credit Investments Group at Credit Suisse.

Credit Suisse has entered into a service agreement with Piedmont Capital Distributors in relation to the marketing and distribution of the Fund. Piedmont Capital Distributors is a national marketing firm with extensive experience serving the distribution needs of asset managers in the US.

* As of March 31, 2011