Credit Suisse Asset Management has filed a proxy with the SEC to close its CS Warburg Pincus Long-Short Market Neutral Fund. While the firm filed the proxy just recently, the liquidation comes as no surprise, because the firm decided this summer to reassess its fund offerings.

The fund, with a quant-based strategy designed to minimize investment risk, did not fit the firm’s goals. It took its first steps to transition the fund on July 30, when it closed the fund to new investors and switched all of its positions to cash. The three portfolio managers, Eric Remole, Marc Bothwell, and Michael Welhoelter, have been terminated but will continue with the product transition through the end of October.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.