Credit Suisse Asset Management’sAustralian equities products have maintained the confidence ofAssirt, with the research house awarding the Swiss funds management group with a “strong” rating for its Australian equities sector capability and four stars for its Australian equities funds.
Assirt claims that despite Credit Suisse’s disappointing performance in Australian equities over the last three years, the fund manager has remained “true to label”.
The research house says that over the period, Credit Suisse maintained its large-cap growth bias, despite this style being out of favour since the end of the technology boom.
The decision by Credit Suisse to preserve a concentrated portfolio with a clear preference for Top 50 stocks meant the manager has had difficulty outperforming over recent years, Assirt says.
But Assirt says the ability to remain a true to label manager is important, as managers distracted by short term noise have difficulty in maintaining consistency of style and portfolio characteristics, which can result in poor outcomes for client’s portfolios.
Assirt claims the last three years have tested the conviction to style of many growth biased managers.
The research house says that Credit Suisse also exhibits a transparent and well disciplined investment process that position it as a good quality fund manager for the long term.
