Credit Suisse Asset Management, LLC
Credit Suisse Asset Management, LLC is a fee-based advisor in New York City. The firm works with high-net-worth individuals and institutional clients. There are around 100 advisors on staff, and the firm has more than $71.47 billion in assets under management.
Credit Suisse Asset Management, LLC Background
Credit Suisse has been in business since 1999. It is an indirect wholly-owned subsidiary of Credit Suisse AG, a publicly-owned foreign bank holding company based in Switzerland.
What Types of Clients Does Credit Suisse Asset Management, LLC Accept?
All of the individual clients Credit Suisse has are high-net-worth. Institutional clients include banking or thrift institutions, investment companies, pooled investment vehicles, pension and profit sharing plans, charitable organizations, state or municipal government entities, other investment advisors, insurance companies, sovereign wealth funds/foreign official institutions and corporations.
Credit Suisse Asset Management, LLC Minimum Account Sizes
The firm does not list a specific minimum account size but says it may impose one. Given that all of the individual clients are classified as high-net-worth, it’s likely that a fairly high minimum is required, likely at least $1 million.
Services Offered by Credit Suisse Asset Management, LLC
The following services are offered at Credit Suisse:
- Discretionary and non-discretionary asset management
- Investment advice
- Various investment strategies
Investment Philosophy
The following investment strategies are available at Credit Suisse:
- Quantitative Investment Strategies (QIS)
- Credit Investments Group
- Commodities
- Quantitative Trading
- Insurance Linked Strategies
- Mexico (investment advisory to two publicly-offered registered investment trusts under Mexican law and focused on credit opportunities in Mexico)
- NEXT (growth equity)
- Legacy strategies
Fees Under Credit Suisse Asset Management, LLC
Fees at Credit Suisse are generally based on a percentage of assets under management. The fee schedules depend on the strategy used. For QIS, the management fee will generally be between 0.50% and 1.50%.
For CIG strategies, the fees range from 0.20% to 0.75%.For commodities strategies it ranges from 0.40% to 0.80%. For full schedules for all strategies, see the firm’s brochure.
Legacy strategies fees range from 0.39% to 1.50%. The quantitative trading strategy has an annual management fee of 0.75% plus operating cost pass through.
Performance-based fees may also apply. Some advisors at the firm may also earn commissions for being broker-dealer, a conflict of interest explained below.
What to Watch Out For
Some advisors at the firm may earn commissions for selling securities as a broker-dealer. This presents a potential conflict of interest, as they may have incentive to sell a security or product to a client that has a higher commission but is not the best choice. When acting as an advisor, though, all must act in the best interest of the client.
The firm does have disclosures on its record, explained below.
Disclosures
There are a number of disclosures at this firm. For example, in 2011 it had to pay $2.5 million in penalties for failing to disclose material facts about the Class V Funding III Collateralized Debt Obligation, which was offered to investors in February 2007.
Where Is Credit Suisse Asset Management, LLC Located?
The firm’s headquarters are at Eleven Madison Avenue New York, New York 10010. The parent company is based in Switzerland.
Opening an Account With Credit Suisse Asset Management, LLC
If you are interested in working with Credit Suisse, you can call the sales desk at (800) 577-2321.
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