An inadvertent administrative glitch can be a fund advisor's worst nightmare, especially when the renewal of a fund's advisory contract is botched.

Credit Suisse Asset Management (CSAM) of New York is the latest to learn this lesson firsthand, multiplied seven times. Through an administrative oversight, the advisory contract for seven Credit Suisse funds was inadvertently allowed to lapse, according to a proxy statement the fund group filed with the Securities and Exchange Commission.

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