ZURICH Feb 8 Credit Suisse,
Switzerland's second-biggest bank, will shift some Swiss
mortgages into a new investment fund to be run by an independent
asset manager, it said on Wednesday.
The move could free up capital on its balance sheet it can
use to promote company loans, Matthias Wyder, head of portfolio
management in its Swiss corporate lending business, told the
Finanz und Wirtschaft newspaper.
He said the fund volume could reach 200 million Swiss francs
($200.2 million) by the end of next month and 500 million by
It could eventually reach 3 billion francs, or around 10
percent of its mortgage volume for income-producing properties,
he was quoted as saying.
The Swiss Mortgage Fund I being offered to institutional
investors will include mortgages on single-family dwellings,
condominiums and multi-family dwellings as well as business
premises, Credit Suisse said in a statement.
The fund's portfolio will be managed by Tavis Capital AG.
Client relationships with mortgage holders will remain with
($1 = 0.9989 Swiss francs)
(Reporting by Michael Shields)