Credit Suisse Asset Management (CSAM) is preparing to launch four Luxembourg-based thematic investmen...
Additionally, the company is preparing to introduce an institutional share class on its Luxembourg funds.
The new funds will use the expertise of CSAM's asset management team based in New York, which also manages a number of Warburg Pincus mutual funds.
Initial plans are for four funds structured as Luxembourg FCPs. These will be Global Telecoms, Global Internet, Global Media and Global High- Tech.
The Global Telecoms fund will be run by CSAM portfolio manager Scott Lewis who manages the top-performing US mutual fund Warburg Pincus Telecoms.
The Global Internet and Global Media funds will be run by New York-based CSAM manager James Abate, who currently runs the Luxembourg-based US Blue Chip fund.
Edward Morse, head of European sales and marketing at CSAM, said: "There is increasing demand for sector funds in Europe and this plays well to the investment strengths of CSAM.
"We have developed a strong team of buy-side research analysts organised globally on a sectoral basis."
The planned introduction of an institutional share class on a number of CSAM funds comes in response to increasing demand for 'clear fee' products, Morse said.
The new charging structure will be aimed at smaller institutions, with a minimum level of around e3m.The charge will vary depending on the asset class and fund type, but typically a major market equity product should have an institutional share charge of around 70 basis points.
The new structure is likely to be introduced on most of CSAM's fund ranges, according to Morse. At present this comprises five FCPs, containing around 50 funds.
In May 1998 CSAM set up a strategic alliance with Warburg Pincus to market mutual funds in the US using CSAM portfolio managers.
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