Credit Suisse ventures forth
Credit Suisse Asset Management has rolled out two new funds aimed at attracting investors seeking higher returns in the technology end of the investment market.
Credit Suisse Asset Management has rolled out two new funds aimed at attracting investors seeking higher returns in the technology end of the investment market.
The Global Post Venture Capital fund will seek to invest in companies which have received
venture capital injections in the past ten years and will be likely to include stocks across a range of countries and industry sectors.
Chief investment officer Tim Ryan says Credit Suisse decided to create this type of fund as the result of increased interest in private equity and venture capital products, with investors in the fund adopting the strategy of taking on more risk for higher returns.
"This product gives investors the ability to capture the growth associated with venture capital financing, with less risk and more liquidity than direct venture capital investments," Ryan says.
New York based investment manager Greg Norton-Kidd says the fund is different since the companies in the fund had already received venture capital and listed, indicating that investors were comfortable with the stocks included.
At the same time, Credit Suisse also launched the global new technologies fund which will target the growth in the areas of telecommunications, media and technology-related industries.
The fund will be managed from New York which will be reflected in its make-up with the exposure to US stocks around 60 per cent.
Both funds will be available in the retail and institutional market which is becoming used to technology funds, with the likes of BT’s TIME fund, AMP’s Global Technology and Communications fund and a similar offering from Colonial already competing in a growing market.
AUTHOR
Jason Spits
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
