UK – Crédit Suisse Asset Management (CSAM) is to launch a fixed income mutual fund in Hungary.
The new fund will be distributed by Citigroup and will have an initial size of around $200m (€230m). It will be split as 75% fixed income and 25% equities, both domestic Hungarian and overseas.
CSAM also announced that they have signed another five year exclusivity deal with the Polish state savings bank, PKO BP, renewing the Polish mutual fund joint venture they set up five years ago.
These funds amount to about $300m and are almost exclusively in fixed income.
Glenn Wellman of CSAM says that are no plans for further expansion in Eastern Europe at the present time. “We have a comprehensive network in place in the region, with 44 staff serving the major markets in the region.”