Bill Mott, head of UK equities at Credit Suisse Asset Management, is returning to day-to-day fund ma...
Bill Mott, head of UK equities at Credit Suisse Asset Management, is returning to day-to-day fund management for the first time in three years following the departure of Dominic Wallington.
Mott is taking over the group's Monthly Income Portfolio and Income funds previously run by Wallington, who is moving to INVESCO.
Mott moved away from the day-to-day management of Credit Suisse's UK funds in 1997, and has been focusing on providing the macro-economic framework for the UK team.
He will be looking to refocus the income funds towards areas of the market which he sees as undervalued. He said that there are currently good pricing opportunities in many areas of the market including brewers, retailers, manufacturing firms and financials.
"I am looking to rebalance the income portfolios towards areas I believe are attractively valued. There are companies out there where the earnings and cashflow are good and the business is secure but which have been overlooked by the market," he said.
Credit Suisse Income is ranked 60 out of 84 funds over three years in the UK Equity Income sector on growth of 22.8%, offer to bid, net income reinvested. The fund is 71 out of 90 over one year on a fall of 11.6% and is 57 out of 92 over three months on a fall of 5.7%.
Credit Suisse Monthly Income Portfolio has an frAA rating and is ranked 55 out of 84 funds in the UK Equity Income sector over three years on growth of 24.3%.
The fund is 58 out of 90 over one year on a fall of 10.4% and is 54 out of 92 over three months, bid to bid, on a fall of 5.7%.
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