Credit Suisse takes allocation decisions from IFAs

The Credit Suisse Multi-Manager European, Japanese and North American funds will merge into the Multi-Manager International fund while Multi-Manager Asia Pacific will become part of Multi-Manager Emerging Markets. The group says the selective consolidation of regional funds into global portfolios will focus the team’s expertise on delivering the strongest growth and investment opportunities for investors. However, the move could be a blow for IFAs who were happy to let the multi-manager team select individual funds but wanted to make regional and asset allocation calls themselves. Aid...