Credit Suisse Commodity Benchmark Selected for New PIMCO Mutual Fund

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Aug 11, 2010, 10:00 ET

NEW YORK, Aug. 11 /PRNewswire-FirstCall/ -- Credit Suisse is pleased to announce that the Credit Suisse Commodity Benchmark (CSCB) has been designated as the benchmark for a new US mutual fund launched by PIMCO, a global investment manager.

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The PIMCO CommoditiesPLUS® Strategy Fund (the "Fund") is a commodities index fund which combines positions tracking the Credit Suisse Commodity Benchmark Index with a portfolio of short-term bonds. According to the Fund's public disclosures, it was launched on 26 May 2010 and currently has assets under management of over US$700 million.

The Credit Suisse Commodity Benchmark updates a physical commodity futures index originally formulated in 1975 and first published in 1978. The Bank has retained the key aspects of that index – including rebalancing, multi-period exposure and weighting methodology – to create a robust benchmark for the performance of the global commodities markets.

The key characteristics of the CSCB are:

currently made up of 30 commodities, resulting in broad diversification and a wide reflection of the overall global commodity complex;
four-step weighting method based on production value and market liquidity that attempts to create balanced risk and reduced correlation between commodity components;
rebalanced to target investment weights monthly to help maintain diversity and reduce volatility;
references commodity futures contracts that fall within the near three months (where available), with a goal of spreading exposure across multiple delivery periods;
15-day roll period that aims to diversify exposure to calendar roll spreads across several weeks; and
licensed to other swap providers.

Additional information about the Credit Suisse Commodity Benchmark (CSCB) is available at https://www.cscbindex.com/cscbindex/en/.

Disclaimer

Credit Suisse does not sponsor, endorse or promote the Fund, recommend that any person invest in the Fund, have any responsibility or liability for or make any decisions about the timing, amount or pricing of the Fund, have any responsibility or liability for the administration or management of the Fund. Credit Suisse does not consider the needs of the Fund or the shareholders of the Fund in determining, composing or calculating the Index or have any obligation to do so. Credit Suisse does not make any representation or warranty, express, statutory or implied, and Credit Suisse disclaims any representation or warranty about the results to be obtained by the Fund, the shareholders of the Fund or any other person in connection with the use of the Index and the data related to the Index.

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 49,200 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.

Investment Banking

In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 30 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.

SOURCE Credit Suisse AG