Standard & Poor's Fund Research is to review the frAAA rating on the Credit Suisse Transatlantic uni...
Standard & Poor's Fund Research is to review the frAAA rating on the Credit Suisse Transatlantic unit trust now that manager James Abate is to depart.
A spokesman for Fund Research said it would be interviewing the new manager Susan Everly when she came to the UK to meet intermediaries.
Everly, who has been Abate's deputy on the New York-based fund for two years will be taking over the unit trust in the next few weeks. She will retain Abate's pragmatic investment approach which allows for value and growth plays. Everly has also been responsible for covering financials, real estate, telecoms, utilities and consumer cyclicals for the group.
Abate is due to leave Credit Suisse at the end of the month to take over as chief financial officer of Meta Creations, a US technology company listed on Nasdaq. He has run Transatlantic since May 1995.
Credit Suisse Transatlantic makes up the lion's share of Credit Suisse Asset Management Funds UK's retail investment sales. The fund saw gross unit trust sales of £148.78m during the 1999/2000 tax year making up 68% of the total for the group. This proportion goes up to 70% if Isa and Pep investments are included for the 1999/2000 tax year, with sales of £153.38m for the fund.
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