CREDIT Suisse Asset Management (CSAM) stands to lose over a third of its retail funds under management in the UK following the shock resignation of joint heads of multi-manager Robert Burdett and Gary Potter.
The duo’s departure has been described as the ‘final nail in the coffin’ for CSAM’s UK retail operation. The UK multi-manager business is currently worth £1.25bn which is over a third of the £3.2bn run in the UK. Over a quarter (26pc) of the Professional Adviser panel of IFAs said they would recommend clients take their cash out of the funds now while almost three quarters (72pc) said they would wait and see how Credit Suisse recovered from the blow before pulling client money from the multimanager portfolios. Only 2pc of the panel said they would recommend clients remain with the funds. ...
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