Credit Suisse to close bond fund

The fund had been languishing for some time and is ranked 48th out of 51 funds listed in the IMA Global Bonds sector over one year, having provided negative returns of 16.8pc (bid-to-bid, according to Lipper, 07.05.08). A spokesperson for Credit Suisse, said: "Following FSA approval, we have written to the small number of investors that we are closing the UK Credit Suisse Target Return fund. "At just £8m in size, the UK fund has become uneconomical to run and we do not expect large inflows in the near future. Investors in the fund will be able to switch their funds free of any charges...