Credit Suisse is launching a US corporate bond fund, Citywire Switzerland can reveal.
The new strategy will mainly focus on the BBB area and is set to launch on 31 March 2017.
The Credit Suisse (Lux) US Corporate Bond fund will aim to outperform the Citi CGBI USBIG Corporate BBB 1-10Y index.
The fund manager on the new strategy is Alex Bruhin, who has joined the global credit team from the Singapore hub. He has also taken over the Credit Suisse (Lux) Broad USD Bond fund and several USD customised mandates for UHNWI and institutional clients.
The fund manager was responsible for CS (Lux) Emerging Market Local Bond Fund EB USD, which closed in April 2016.
Bruhin is on the global credit solutions team that manages $8 billion in assets and is headed by Oliver Gasser.
Gasser has been managing fixed income funds at Credit Suisse since 2008. He has looked after CS (Lux) Focused Bond Fund QAH CHF, CS (Lux) Global High Yield Bond Fund EBH CHF and Credit Suisse (Lux) Global Value Bond Fund since its launch in 2009.
CS (Lux) Focused Bond Fund QAH CHF, which was launched in February 2015, has returned 27.59% in Swiss franc terms over the past year to the end of February 2017. Its technical indicator, Citi WGBI TR USD, lost 0.70% over the same timeframe.