NEW YORK, April 30, 2012 /PRNewswire/ -- Credit Suisse's Asset Management division today announced the release of the second quarter 2012 edition of its "Alternatives Quarterly." This publication, accompanied by a short video, offers insights from the Asset Management division's Global CIO Office and leading alternatives portfolio managers on global economic trends and capital markets.
In this edition, Stefan Keitel, Global Chief Investment Officer for Asset Management and Private Banking, suggests that, despite volatility in the first quarter of 2012, global markets have embarked on a period of sustained improvement, supported by the following: 1) Global economic growth that remains resilient, particularly in the US and China; 2) The European Central Bank's (ECB) recent Long-Term Refinancing Operation, which helped to improve credit flow in the region; and 3) Corporate balance sheets that remain healthy while earnings have stayed generally stable, especially in the US.
Mr. Keitel views the recent correction in risky assets not as a reversal of fortune for the markets, but rather as a renewed buying opportunity in the coming weeks for investors, especially in light of what he believes are attractive valuations. Other key topics in the Q2 2012 issue include:
- Corporate events and restructurings have led to positive momentum in the US corporate credit market, benefiting event-driven hedge funds. Despite the ECB's efforts, the European distressed opportunity will likely unfold, albeit over a longer investment time horizon.
- Global macro managers achieved balanced returns across asset classes, particularly driven by directional macro trends in equity indices, fixed income and commodities.
- The senior loan market exhibited positive performance in the first quarter amid an overall improvement in market tone. Looking ahead, the senior loan market may trend higher on continued demand for the asset class, though potential market shocks may arise from the Eurozone.
- Despite recent dips in Chinese and European economic indicators, the Commodities group believes tightening supply and improving demand in US and key emerging market economies may provide support for commodity markets in 2012.
- Private equity funds continue to increase their investment focus in emerging markets, as these regions have continued to be receptive towards private equity. Demand is driven by pension plans and endowments seeking this exposure to help meet long-term obligations and return requirements. The Customized Fund Investment Group reports that PE fundraising in emerging markets increased by 64% in 2011, reaching $38.6 billion. With economic headwinds expected to continue in parts of Europe, commitment levels to distressed debt have similarly gained significant momentum in 2011.
For a copy of the Q2 2012 Asset Management Alternatives Quarterly or to view the video, please contact [email protected].
Credit Suisse AG
Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). As an integrated bank, Credit Suisse offers clients its combined expertise in the areas of private banking, investment banking and asset management. Credit Suisse provides advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as to retail clients in Switzerland. Credit Suisse is headquartered in Zurich and operates in over 50 countries worldwide. The group employs approximately 49,700 people. The registered shares (CSGN) of Credit Suisse's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
In its Asset Management business, Credit Suisse offers products across a broad spectrum of investment classes, including hedge funds, credit, index, real estate, commodities and private equity products, as well as multi-asset class solutions, which include equities and fixed income products. Credit Suisse's Asset Management business manages portfolios, mutual funds and other investment vehicles for a broad spectrum of clients ranging from governments, institutions and corporations to private individuals. With offices focused on asset management in 19 countries, Credit Suisse's Asset Management business is operated as a globally integrated network to deliver the bank's best investment ideas and capabilities to clients around the world.
All businesses of Credit Suisse are subject to distinct regulatory requirements; certain products and services may not be available in all jurisdictions or to all client types.
Copyright 2012, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.
Certain information contained in this document constitutes "Forward-Looking Statements" (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "anticipate", "target", "project", "estimate", "intend", "continue" or "believe", or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.
This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change without obligation to update. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not a guide or indicator to future performance. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.
SOURCE Credit Suisse AG