BEST PRIVATE BANK FUND ADVISORY
Credit Suisse
BEST PRIVATE BANK – FUND ADVISORY
Rodolphe Larqué
head of managed solutions,
Credit Suisse
Private Banking Asia Pacific
“We are honoured to receive the Fund Advisory Award for the third consecutive year, as well as an Excellence Award for Alternative Advisory. In a year where markets were volatile, our integrated approach across all fund solutions enabled us to be flexible in response to difficult market conditions. Successes have been met across the entire fund solutions spectrum, and our assets under management and fund sales held steady. Aside from robust traditional fund sales, the alternative fund solutions that we offer on our product shelf have done particularly well as these investments are less correlated to the market and received tremendous interests from clients. Our access to top managers and exclusive solutions provided us with clear winners in the hedge fund space, and our private equity AUM has more than quadrupled since 2017.”
Winners rationale
The tide of synchronised growth and monetary easing that had once lifted all boats continued receding in 2018, challenging the bottom-up skills of asset managers and the fund advisory capabilities of private banks. Credit Suisse, in these unfavourable conditions, managed to expand its offering while simultaneously delivering solid outperformance and fund asset growth.
Last year, Credit Suisse augmented the number of managers on its platform, reinforcing its fund platform with various thematic and alternative strategies. In a strong year for the healthcare sector, the bank delivered pioneering funds in digital health and life science, and to tap into the emerging sustainable investing space, it capitalised on smart mobility and green property strategies.
Meanwhile, alternatives — a newly integrated component to the funds platform and offering — contributed heavily to fund sales volumes in 2018. Due in large part to Credit Suisse’s concerted effort to create more visibility for its quantitative hedge fund offerings and European property strategies, alternatives made up a whopping three-quarters of funds net sales last year.
Alongside enviable sales figures, the bank also delivered robust outperformance across traditional long-only and alternative funds.
More than 80% of Credit Suisse’s focus funds — its most recommended strategies — experienced positive performance since they were onboarded to the list, with close to 60% of benchmark-oriented funds beating their respective benchmarks over the same period. In addition, fund assets in the region posted healthy year-on-year growth and an above-average penetration rate in the high teens.
With an expanded product offering backed by strong outperformance and asset growth, Credit Suisse has triumphed in a difficult year.
Credit Suisse is Asian Private Banker’s Best Private Bank – Fund Advisory for 2018.
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