Credit Suisse's Asset Management Division Announces New Floating Rate Bank Loan Mutual Fund

NEW YORK, June 6, 2011 /PRNewswire/ -- Credit Suisse's Asset Management division today announced the re- launch of the Credit Suisse Floating Rate High Income Fund (the "Fund"), previously known as the Credit Suisse High Income Fund. The Fund is Credit Suisse's first open end mutual fund offering exposure to floating rate bank loans.

The Credit Suisse Floating Rate High Income Fund will invest in a diversified portfolio consisting primarily of floating rate bank loans to non-investment grade companies and seek to outperform the Credit Suisse Leveraged Loan Index. The Fund, which was previously focused on US high yield investments, may also allocate a smaller portion of its portfolio to other debt securities such as high yield bonds. The Fund will be managed by the Asset Management's Credit Investments Group ("CIG"), which has USD 16.2 billion in assets under management*.

CIG is one of the largest and most experienced managers in the senior secured loan space. The Fund will rely upon CIG's research-driven investment philosophy consisting of bottom-up, fundamental analysis of corporate capital structures, with a particular focus on floating rate bank loans.

"Floating rate bank loans have historically provided attractive diversification benefits to fixed income portfolios. They can mitigate rising interest rate risk and provide a hedge against inflation. Considering the current global interest rate environment, we believe that now is an opportune time to invest in the asset class and we are excited to offer our management expertise through an open end fund," said John G. Popp, Head of the Credit Investments Group at Credit Suisse.

Credit Suisse has entered into a service agreement with Piedmont Capital Distributors in relation to the marketing and distribution of the Fund. Piedmont Capital Distributors is a national marketing firm with extensive experience serving the distribution needs of asset managers in the US.

* As of March 31, 2011 Credit Suisse AG Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 50,100 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

Asset Management In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types. Copyright 2011, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.


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