Credit Suisse limits subscriptions to $2.1bn robotics fund

Credit Suisse Asset Management has announced it will restrict subscriptions to Credit Suisse (Lux) Global Robotics Equity fund to a maximum of $1m (€812m) as from 9 April 2018.

Any subscription with a volume of over $1m will be rejected at the exception of orders that gather several sub-orders, it is understood.

Credit Suisse AM explained its robotics fund has faced a high level of inflows since its launch on 30 June 2016 and that it wanted to preserve both existing investors’ interest and the ability of the fund to pursue investments in smaller innovative companies involved in the robotics area.

The fund, managed by Patrick Kolb and Angus Muirhead. was worth $2.17bn (€1.76bn) of assets under management as of 28 March 2018, according to Morningstar data.

The top 10 positions of the fund as at 28 February 2018 included Omron, Cognex, Dexcom, iRobot, Mazor Robotics, Trimble Nav., Ansys, Cerner, Hollysys Automation Tech, Wire Card, representing 24.50% of its allocation.

ABOUT THE AUTHOR
Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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