Credit Suisse's Asset Management Division Releases the Q1 2012 Edition of the Alternatives Quarterly

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Feb 02, 2012, 09:35 ET

NEW YORK, Feb. 2, 2012 /PRNewswire/ -- Credit Suisse's Asset Management division today announced the release of the first quarter 2012 edition of its "Alternatives Quarterly." This publication, accompanied by a short video, offers insights from the Asset Management division's Global CIO Office and leading alternatives portfolio managers on global economic trends and capital markets.

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In this edition, Global Chief Investment Officer for Asset Management and Private Banking, Stefan Keitel, identifies key themes that he believes will drive global markets in 2012: 1) the further development of the debt crisis in the Eurozone; 2) macroeconomic trends in the US, Eurozone and China; and 3) geopolitical risks, particularly in the Middle East and Korea.

Mr. Keitel believes that equity markets are further trending in positive direction due to improved global macroeconomic conditions, stabilizing policy measures taken in Europe, and the European Central Bank's strong liquidity support for Eurozone banks. However, he adds, "Given the current environment characterized by low-yielding bond markets, and volatile yet upward sloping equity markets, investors may need to look for alternative strategies that offer uncorrelated returns and attractive risk/return profiles."

Other key topics in the Q1 2012 issue include:

Market volatility has hurt short-term performance in the event-driven hedge fund space, but managers expect that there will be an increased supply of quality, long-term opportunities.

Despite market volatility and negative sentiment dominating the US credit landscape, high yield-issuing companies have been focused on deleveraging and extending maturities. These improving credit fundamentals continue to support the idea that default expectations in 2012 and 2013 should be lower than historical averages.

Global macro hedge funds performed well overall in 2011—particularly managers with a tactical, non-linear approach that benefited from the short-term, stress-related trading opportunities in equity, commodities and bond markets worldwide.

The Commodities Group believes that ongoing geopolitical risk in the Middle East, changing weather patterns and increasing demand from China should drive performance for commodities in 2012.

In Brazil, fixed income and equity managers are finding opportunities from the government's focus on promoting growth. Inflation fears have eased, potentially paving the way for additional monetary policy to help stimulate the country's GDP growth. As such, we believe financial services and some consumer names may outperform in 2012.

For a copy of the Q1 2012 Asset Management Alternatives Quarterly or to view the video, please contact [email protected].

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Asset Management
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.

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SOURCE Credit Suisse AG