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New fund offers yield pegged to BUBOR

Credit Suisse Asset Management Hungary (CSAM) Rt will offer a new, open-ended fund pegged to the BUBOR to retail and professional investors, CSAM Hungary CEO Krisztina Kozma said yesterday. BUBOR is the Budapest interbank offered rate published daily by the National Bank of Hungary. The fund, called Credit Suisse BUBOR Plusz's Investment Fund, will be available in two series, the "B" series for retail investors and the "I" series for professional investors. The "B" series will pay 1% over the six-month BUBOR, but includes an asset management fee of 0.7%. The "I" series will pay 1.6% over the six-month BUBOR and charge an asset management fee of just 0.1%. (Econews; NG 11)