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Posted inEquities

Credit Suisse to transfer fund and manager to Lombard Odier

Luxury brands
Luxury brands

The Credit Suisse fund’s portfolio manager, Juan Mendoza, will join Lombard Odier to run the fund on the same day of transfer.

According to a joint announcement, Lombard Odier will launch the LO Funds – Global Prestige fund on 26 June 2018 and Credit Suisse’ Global Prestige Equity Fund will transfer into this fund.

The fund will invest in 30 to 40 companies that offer luxury or prestige products and services with premium brands

Credit Suisse Asset Management head of Switzerland and EMEA, Michel Degen said: “Partnering with other firms is crucial if we are to meet the needs of clients and thrive as an industry. We are pleased to join forces with Lombard Odier IM to achieve this fund merger”.

The new fund’s manager Juan Mendoza is currently head of Asia equities at Credit Suisse in Hong Kong and has been the manager of the Credit Suisse fund since 2009.

According to FE Analytics, the €237.7m Credit Suisse Sicav has its largest holdings in Estee Lauder (7.67%), Kering (6.41%), Ferrari (5.66%), and Alibaba (5.53%). The fund has returned 29.1% over the three years to 30 April 2018.

Jassmyn Goh

Jassmyn reported from Sydney to New York to Jakarta before joining Expert Investor. She was most recently Features Editor at Money Management and Super Review in Sydney.

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