Bill Mott Leaving Credit Suisse
January 10th, 2007
It has been announced today that Bill Mott, long-term equity income fund manager, is leaving Credit Suisse and as a result we advise all investors in the Credit Suisse Income & Monthly Income funds to switch their money to alternative funds. We have held this view for some time, given the regular changes in fund manager and have communicated it wherever possible, however today’s news serves as the final nail in the coffin of what was once an illustrious pair of funds. We would also suggest avoiding their Alpha Income fund as it suffers from the same uncertainty.
We have no doubt that Bill Mott and Ian Chimes (also from Credit Suisse) will be launching an equity income fund in the near future at their new venture, Psigma and expect this to be within the next 9 weeks once regulatory approval is given. While the equity income sector is already full to bursting with suitable funds, we would welcome Bill Mott’s return to hands-on fund management and know that our investors will also be keen to hear further details. We have already had discussions with them this morning about their plans and hope to bring you more news in the near future.
In the meantime we would suggest investors consider the Neptune Income, Jupiter Income and Standard Life UK Equity High Income funds as suitable replacements. For those who are fed up with chasing fund managers from one job to another, a more suitable replacement would be a fund of funds, such as T.Bailey Equity Income or Jupiter Merlin Income, which covers a wider investment area.
Author: Philippa Gee
January 10th, 2007
Category: Fund News, Investments.
