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Wednesday, December 3, 2014

Credit Suisse to open new Brazil hedge fund next year, (NYSE: CS)

Credit Suisse Group AG plans to open a new hedge fund in Brazil called Gauss next year, a move aimed at offering new investment alternatives for clients, a senior executive said on Wednesday. Gauss will be overseen by star fund manager Fabio Okumura, said Jose Olympio Pereira, chief executive of Credit Suisse's unit in Brazil. He declined to give details on the new venture.

Credit Suisse Group AG is a Switzerland-based holding company engaged in private banking, investment banking and asset management areas. Shares of CS traded higher by 0.34% or $0.09/share to $26.75. In the past year, the shares have traded as low as $24.82 and as high as $33.25. On average, 1193400 shares of CS exchange hands on a given day and today's volume is recorded at 129512.