The latest in funds and investments across the UK, Europe, Middle East and Africa.

Credit Suisse, Lombard Odier

A pair of Swiss wealth management big names, Lombard Odier Investment Managers and Credit Suisse Asset Management, are merging funds, switching control of a global equity strategy that targets luxury goods and services. 

LOIM will take over the strategy and it will launch what is called LO Funds – Global Prestige on 26 June. The €236 million ($279.6 million) Credit Suisse (Lux) Global Prestige Equity Fund will subsequently transfer into this new fund. Juan Mendoza will join Lombard Odier as a senior portfolio manager to run the fund, with effect from the same date.

The fund will be run in the same way as it has since 2009. 

Global Prestige will be invested in a concentrated portfolio of 30 to 40 stocks of companies with the ability to generate sustainable excess economic returns with strong market positions, high pricing power and promising growth prospects. The fund will aim to deliver maximum capital appreciation by offering investors the opportunity to benefit from structural long-term growth trends such as emerging consumers, millennials spending and other consumer-related trends.