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| Press Room - 2003 |
| FOR IMMEDIATE RELEASE |
| Credit Suisse Asset Management Issues Asset Allocation Investment Fund Covering Real Estate and Alternative Investments |
Zurich, May 03, 2003 -
Credit Suisse Asset Management is expanding its range of asset allocation investment funds and is issuing the Credit Suisse Prime Strategies Fund – Basic (Sfr) on May 14, 2003 (subscription period: May 5 – May 9, 2003).
The Credit Suisse Prime Strategies Fund – Basic (Sfr) invests in equities, bonds, money market paper, indirect real estate investments and alternative instruments. This means that all the major asset classes are covered by a single product. At least 60% of the fund’s assets are held at all times in a subportfolio of lower-risk instruments (bonds, money market paper and real estate), ensuring that the value of the investment remains stable. The second subportfolio, which has higher risk exposure and therefore offers greater potential returns, is invested in equities and alternative instruments. The allocation to this subportfolio is 15% or more. Depending on the market forecast, the portfolio manager has the option of overweighting or underweighting the different asset classes within the prescribed ranges.
The fund is a new addition to Credit Suisse’s successful range of portfolio funds. The mix of alternative investments, equities, real estate, bonds and money market paper delivers significant benefits to the investor and ensures that the fund’s assets are well diversified. The inclusion of indirect real estate investments enables the investor to participate in an asset class offering a high level of steady income. Meanwhile, the anti-cyclical behavior of alternative investments means that they reduce the fund’s volatility.
The product features of the Credit Suisse Prime Strategies Fund – Basic (Sfr) make it suitable for Swiss franc investors who are interested in a secure vehicle but also want limited exposure to investments with a higher risk/reward potential. The fund’s long-term investment horizon makes it ideal for personal pension plans.
In partnership with Winterthur Life, Credit Suisse Asset Management is offering the Credit Suisse Prime Strategies Fund – Basic (Sfr) as part of a unit-linked life insurance policy. This will enable investors to enjoy all the additional benefits of a life insurance product, such as tax privileges and a guaranteed face amount.
Credit Suisse Asset Management currently manages assets of around CHF 13 billion in asset allocation investment funds. The Balanced team is made up of four people and is based in Zurich.
| Name of fund: |
Credit Suisse Prime Strategies Fund – Basic (Sfr) |
| Swiss Securities Number: |
157 80 43 |
| ISIN: |
CH00157 80 43 7 |
| Fund currency: |
CHF |
| Initial issuing period: |
May 5 to May 9, 2003, 3 p.m. CET |
| Value date: |
May 14, 2003 |
| Issue price: |
CHF 100 per unit |
| Management fee p.a.: |
1.30% |
| Financial year: |
April 1 – March 31 |
| Fund domicile: |
Switzerland |
| Distribution: |
income |
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Notes to editors:
Credit Suisse Asset Management is the institutional and mutual fund asset management arm of Credit Suisse First Boston, part of the Credit Suisse Group, one of the world’s largest financial organizations with approximately USD 858.7 billion in assets under management. Credit Suisse First Boston (CSFB) is a leading global investment bank serving institutional, corporate, government and individual clients. CSFB’s businesses include securities underwriting, sales and trading, investment banking, private equity, financial advisory services, investment research, venture capital, correspondent brokerage services and asset management. CSFB operates in 69 locations in 34 countries across five continents. The Firm is a business unit of the Zurich-based Credit Suisse Group, a leading global financial services company.
As of December 31, 2002, Credit Suisse Asset Management employed 2,142 people worldwide and had global assets under management of approximately USD 297.4 billion. Please note that this is not an offer for advisory services by Credit Suisse Asset Management.
The fund manager of the investment fund under Swiss law is Credit Suisse Asset Management Funds, Zurich. The custodian bank is Credit Suisse, Zurich. The value of units in the fund and any income from them may fall as well as rise and is not guaranteed. On redemption of fund units, the investor may get back less than was originally invested. This document does not constitute an offer or solicitation to purchase units in the funds . Subscriptions can only be made if a Fund is registered for distribution in Switzerland. Subscriptions are only valid on the basis of the current prospectus and latest annual report (or half -yearly report, if this is more recent). Prospectuses, terms and conditions and copies of the most recent annual and semi-annual reports may be obtained free of charge from Credit Suisse Asset Management Funds, Zurich, or any Credit Suisse Group bank in Switzerland.
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| Sandrine Mehr |
CSAM |
Tel: +41 01 333 4248 |
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