Credit Suisse's new fund targets Liquid Alternative Beta Index returns

By Toni Weeks

San Diego, Dec. 15 - Credit Suisse Opportunity Funds announced it has launched the Credit Suisse Liquid Alternative Fund, a new fund that is designed to achieve investment results that correspond generally to the performance, before fees and expenses, of the Credit Suisse Liquid Alternative Beta index.

The fund will employ an indexing, or passive, investment approach, seeking to approximate the aggregate returns of the universe of hedge funds, as represented by the Dow Jones Credit Suisse Hedge Fund index, using liquid investments. This index is an asset-weighted benchmark that measures hedge fund performance.

Class A shares will incur a maximum sales charge of 5.25%; class C and class I shares will not carry a sales charge. Purchases of $1 million or more of class A shares may be subject to a deferred sales charge on redemptions occurring within a year of the purchase date. Class C shares will impose a 1% deferred sales charge during the first year.

The portfolio managers, Jordan Drachman and Peter Little, also comprise the Liquid Alternative Beta Team.

The management fee for all share classes is 1.15%. New York-based Credit Suisse Asset Management, LLC, the fund's investment adviser, has agreed to limit operating expenses during the first year to a percentage of the fund's average daily net assets. The total annual fund operating expenses after fee limitations and/or expense reimbursements will be 1.95% for class A shares, 2.7% for class C shares and 1.7% for class I shares.

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