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Credit Suisse bolsters robotics fund with ex-UBS manager

Credit Suisse bolsters robotics fund with ex-UBS manager

Credit Suisse has assigned thematic specialist Angus Muirhead to support Citywire + rated Patrick Kolb on the firm’s dedicated robotics fund, Citywire Selector has learned.

Muirhead, who joined Credit Suisse from Ethenea in September of last year, was formerly a thematic investment specialist at the Swiss firm’s rival UBS Asset Management.

He was assigned to work alongside Kolb on April 28, according to company documents and the fund factsheet.

Kolb was handed the CS (Lux) Robotics Equity fund in June 2016 and has accrued $226 million (€207 million) in assets since its launch.

During his tenure with UBS, Muirhead had been responsible for a global technology fund and moved to work as an analyst covering technology, IT and healthcare when he joined Ethenea Independent Investors.

His assignation to the robotics-focused fund comes during a boom period for these strategies, which saw Pictet’s dedicated vehicle soft-closed after rocketing to €3 billion in assets just 18 months after being launched.

The CS (Lux) Robotics Equity fund returned 27% in US dollar terms over the 11 months from launch to the end of April 2017. This compares to a 31.2% rise by its technical indicator, the FTSE AW/Technology TR.

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