Credit Suisse has bought out an online investment service, www.credit-suisse.net, which enables inve...
Credit Suisse has bought out an online investment service, www.credit-suisse.net, which enables investors to buy shares from stock markets around the world as well as funds from investment houses.
The main product, the Global Investor Portfolio Account, provides a single investment account for all transactions in stocks, funds and currencies.
Investors can buy shares from 15 stock markets.
These exchanges are the Frankfurt, New York, Nasdaq, Swiss, London (FTSE 100 and mid 250), Paris, Luxembourg, Madrid, Amsterdam, Stockholm, Toronto, Oslo, Helsinki, Copenhagen and Brussels. Equities can be bought on the international as well as the domestic markets.
Funds available are Luxembourg-domiciled and feature products from groups such as ABN Amro, Credit Suisse, HSBC, Merrill Lynch and Schroders. There are approximately 170 funds which cover a full range of asset classes including both equities and bonds.
Credit Suisse plans to add 20 to 30 providers in the first quarter of next year. Funds will include a broad range of asset classes. Until the end of the year, there will be a e25 charge on every fund purchased with a transaction value below e150,000. Currency can be in dollars, sterling, Swiss francs or euros.
The minimum investment is e1,000.
The charging structure is to be amended in 2001.
Investors can increase their buying power through a securities-backed lending facility.
Investors' accounts can be accessed by internet, or telephone 24 hours a day. Information is provided in English, German, Italian, or Spanish.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till