Credit Suisse AM re-enters European ETF market with triple launch

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Credit Suisse Asset Management has re-entered the European ETF market with the launch of three products, seven years after selling its ETF business to BlackRock.

The ETFs will add to the firm’s existing index fund range which currently has €123bn assets under management (AUM).

The ETFs were launched in response to the growing demand for the wrapper in areas where the firm believes they exhibit efficiency advantages over index funds.

The firm said the introduction of ETFs will better serve investors such as fintech companies that have geared their processes and systems to stock market transactions.

Three existing index funds have been converted into ETFs. The CSIF (IE) MSCI USA Blue UCITS ETF, the CSIF (IE) MSCI USA ESG Leaders Blue UCITS ETF and the CSIF (IE) MSCI World ESG Leaders Blue UCITS ETF are listed on the SIX Swiss Exchange, the Borsa Italiana and the Deutsche Börse.

The three ETFs will track MSCI indices and will have combined assets of around CHF700m from inflows when they were in their index fund structure.

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At the time of the sale to BlackRock, Credit Suisse was the fourth-largest ETF provider in Europe with CHF16bn AUM across its 58-strong range.

Michel Degen, head of Switzerland and EMEA at Credit Suisse AM, commented: “We continually analyse the market, new trends and client needs to provide appropriate solutions for our customers.

“The strategic importance of ETFs will further increase in the future as digital sales platforms gain greater significance.”

Valerio Schmitz-Esser (pictured), head of index solutions at Credit Suisse AM, added: “Through our core business, index funds, we have the critical mass and possess the technology and expertise to provide ETFs in targeted investment segments that supplement our existing offerings.”

Brown Brothers Harriman will be the fund administrator and custodian bank for the three ETFs.

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