Credit Suisse Asset Management has re-launched the Credit Suisse Floating Rate High Income Fund, previously known as the Credit Suisse High Income Fund.
The fund will invest in a diversified portfolio of floating rate bank loans to non-investment grade companies as well as high-yield bonds and seek to outperform the Credit Suisse Leveraged Loan Index. Previously, the fund focused on U.S. high-yield investments.
“Floating rate bank loans have historically provided attractive diversification benefits to fixed income portfolios,” said John G. Popp, head of credit investments at Credit Suisse. “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.”
Piedmont Capital Distributors will market and distribute the fund.