Credit Suisse Asset Management has re-entered the exchange-traded funds (ETF) market in Europe after an exit seven years earlier.
In 2013, the firm offloaded its $17.6bn ETF operations to American asset manager BlackRock, strengthening the latter’s ETF presence mainly in Switzerland and also in Ireland and Luxembourg.
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Credit Suisse reenters the market by rolling out three ETFs, which add to its index fund range.
The new offerings are listed on Switzerland, Italy, and Germany stock exchanges. Of them, two incorporate ESG principles.
The products are said to be launched in “areas where they exhibit efficiency advantages over index funds”.
Credit Suisse Asset Management Index Solutions head Valerio Schmitz-Esser said: “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.”
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By GlobalDataThe latest move is in response to increasing demand from investors including fintechs, which have “geared their processes and systems to stock-market transactions”, noted Credit Suisse.
Credit Suisse Asset Management head of Switzerland and EMEA Michel Degen said: “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.”
