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Credit Suisse launches its first fund of Newcits funds

Date: Thursday, July 22, 2010
Author: Amy Williams, CityWire

Swiss banking giant Credit Suisse has become the latest entrant into the rapidly expanding Newcits market with the launch of its first Ucits III-compliant fund of hedge funds.

The Luxembourg-domiciled Credit Suisse Solutions (Lux) Prima Multi-Strategy fund is expected to launch with over €100 million of initial subscriptions and be registered for sale around Europe over the next several months.

The CS Prima Multi-Strategy fund is open to both institutional and retail investors and offers weekly liquidity.

The fund will target attractive risk adjusted returns through active portfolio management and may invest in various alternative investment Newcits strategies including: equities, event driven, convertibles, macro, credit, managed futures, fixed income, emerging markets equities and rates.

Boris Arabadjiev, head of Credit Suisse’s fund of hedge fund management unit, said of the launch: 'By leveraging Credit Suisse’s institutional investment process and due diligence practices, we believe we can offer investors a compelling multi-strategy product that provides attractive risk adjusted returns through a Ucits III compliant vehicle.'