Pension Plan Pulls Assets From CSAM

A U.K. pension fund has terminated Credit Suisse Asset Management from handling a short-term bond mandate due to poor performance.

  • 14 Jan 2005
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A U.K. pension fund has terminated Credit Suisse Asset Management from handling a short-term bond mandate due to poor performance.

The States of Guernsey Contingency Reserve Fund, which runs £195 million, recently cut CSAM loose. "Our dissatisfaction with the manager's performance led to the termination," said Rob McMicking, investment adviser to the plan. The mandate is now split equally between Investec Asset Management and Credit Suisse, Guernsey, which is the local private banking branch of the Swiss bank and separate from CSAM.

"The mandate still remains with the Credit Suisse group," said Jane Collins, head of U.K. institutional business at CSAM, declining to discuss its underperformance.

The brief is to outperform a benchmark made up 90% by the J.P. Morgan U.K. 1-10 Year Government Bond Index and 10% by the Salomon Brothers U.K. Sterling Three-Month Deposit Index.

  • 14 Jan 2005

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 22 May 2017
1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%