Credit Suisse Multialternative Strategy Fund
Data updated: 2025-01-14
C000110885 — Credit Suisse Multialternative Strategy Fund. Long-Short · $232.58M AUM · 0.90% expense ratio. Holdings, fees, performance and SEC filings.
C000110885 Fund Overview
Credit Suisse Multialternative Strategy Fund is a US mutual fund managed by Credit Suisse Opportunity Funds, categorised as Long-Short. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Credit Suisse Opportunity Funds
- Category: Long-Short
- Assets under management: $232.58M
- 1-year return: 1.5%
- SEC CIK: 0000946110
- SEC series ID: S000036214
- Share class ID: C000110885
C000110885 Investment Objective and Strategy
Credit Suisse Multialternative Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Credit Suisse Opportunity Funds.
Investment objective
The fund seeks to achieve total return consistent with the return and risk patterns of a diversified universe of hedge funds.
Principal investment strategy
"The fund seeks to approximate the aggregate returns, before fees and expenses, of the universe of hedge funds, as represented by the Credit Suisse Hedge Fund Index (the ""CS Hedge Fund Index""), using liquid investments. The CS Hedge Fund Index is a widely recognized asset-weighted benchmark that measures hedge fund performance. The index used as representative of hedge funds may be changed without shareholder approval. In managing the fund, Credit Suisse, the fund's investment manager, seeks to estimate the market factors that drive the performance of the universe of hedge funds. The fund seeks to achieve its investment objective by investing its assets in securities and financial instruments that provide exposure to these market factors. As a component of its overall investment process, Credit Suisse may utilize certain quantitative models and methodologies to guide its investment approach or security selection although the use of such models and methodologies may vary based on market factors and economic trends as determined by Credit Suisse.
The fund may invest in securities and financial instruments within the U.S. and non-U.S. equity (including emerging markets), U.S. and non-U.S. fixed income (including emerging markets), commodity and currency asset classes. Credit Suisse employs three primary hedge fund strategies in managing the fund: Long/Short Equity, Event Driven and Global Strategies. Long/Short Equity Strategies seek to provide long and short exposure to a diversified portfolio of equities which involves investing in equities (i.e., investing long) that are expected to increase in value and selling equities (i.e., short sales or short selling) that are expected to decrease in value. Long/Short Equity Strategies have the flexibility to shift investment/trading strategies, such as from value to growth, from small to medium to large capitalization stocks, and from net long to net short.
Event Driven Strategies typically invest in various asset classes and seek to profit from potential mispricing of securities related to a specific corporate or market event. Such events can include: mergers, bankruptcies, financial or operational stress, restructurings and workouts, asset sales, recapitalizations, spin-offs, litigation, regulatory and legislative changes as well as other types of corporate events. Event Driven Strategies include merger arbitrage, in which the fund may buy shares of the ""target"" company in a proposed merger or other reorganization between two companies. If the consideration in the transaction consists of stock of the acquirer, the fund may seek to hedge the exposure to the acquirer by shorting the stock of the acquiring company. Global Strategies incorporate hedge fund strategies which invest across geographies and asset classes typically in a tactical manner and also incorporate certain arbitrage strategies.
Examples of strategies of such types of hedge funds include convertible arbitrage, global macro and managed futures. The investment universe of Global Strategies is broad, often including equity, currency, fixed income and commodity exposures across developed and emerging markets. The percentage of the fund's portfolio exposed to each asset class and geographic region or to any hedge fund strategy will vary from time to time. The fund will invest in a broad range of instruments, including, but not limited to, equities, American Depository Receipts and Global Depository Receipts, other mutual funds (including other Credit Suisse Funds), exchange-traded funds (""ETFs""), warrants, bonds (both investment grade and below investment grade (commonly referred to as ""junk bonds"")), exchange-traded notes (""ETNs""), currencies, commodities, futures, options and swaps, either by investing directly in these instruments or, in the case of commodities and certain commodity-linked instruments, indirectly, by investing in the Subsidiary (as described below) that invests in such commodities and commodity-linked instruments.
The fund also may invest in cash and cash equivalents. As a result of the fund's use of derivatives, the fund may hold significant amounts of high-quality, short-term securities, including U.S. Treasuries, shares of money market funds and repurchase agreements. The fund also may invest in high-yield securities to earn income, as well as to achieve its investment objective. The fund primarily will gain exposure to commodities and commodity-linked instruments either through investments in another Credit Suisse Fund or investments in the Credit Suisse Cayman Multialternative Strategy Fund, Ltd. (the ""Subsidiary""), a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands. Generally, the Subsidiary will invest in (long and short) commodity-linked futures and swaps, but it may also invest in other types of futures, swaps and options, as well as certain money market instruments, including U.S.
government securities, money market fund shares, repurchase agreements and other high-quality, short-term fixed income instruments. The primary purpose of the money market instruments held by the Subsidiary will be to serve as collateral for the Subsidiary's derivative positions; however, these instruments may also earn income for the Subsidiary. The fund may invest up to 25% of its total assets in the Subsidiary. Investment in the Subsidiary is expected to provide the fund with commodity exposure within the limitations of the federal tax requirements that apply to the fund. Investments in other Credit Suisse Funds may provide the fund with exposure to other securities and financial instruments in addition to commodities and commodity-linked instruments. The fund does not invest in hedge funds.
For defensive purposes, due to abnormal market conditions or economic situations as determined by Credit Suisse, the fund may invest up to 100% of its assets in cash or certain short-term securities. Although intended to avoid losses in adverse market, economic, political or other conditions, defensive tactics might be inconsistent with the fund's principal investment strategies and might prevent the fund from achieving its goal. The fund is ""non-diversified,"" meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities."
C000110885 Holdings
Top 10 holdings of Credit Suisse Multialternative Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| State Street Global Advisors | 10.18% |
| United States Treasury | 6.43% |
| United States Treasury | 6.36% |
| United States Treasury | 6.30% |
| United States Treasury | 6.24% |
| State Street Global Advisors | 3.35% |
| United States Treasury | 2.99% |
| United States Treasury | 2.98% |
| United States Treasury | 2.96% |
| United States Treasury | 2.95% |
C000110885 Portfolio Allocation
Asset-class allocation of Credit Suisse Multialternative Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Cash & Equivalents | 64.7% |
| Equity | 9.5% |
| Derivatives | 0.3% |
| Real Estate | 0.2% |
C000110885 Performance
Total returns for C000110885 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 1.5% |
| 3 years (annualised) | 3.0% |
| 5 years (annualised) | 4.8% |
C000110885 Risk Information
Risk metrics for C000110885, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 4.9%
C000110885 Costs and Fees
C000110885 costs about $90 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.90%
- Gross expense ratio: 1.28%
- Portfolio turnover: 375%
- Brokerage commissions: 11.79 bps of average net assets (SEC N-CEN)
C000110885 Cashflows
Over the 12 months to 2024-10, Credit Suisse Multialternative Strategy Fund had net outflows of $160.93M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-10 | −$119.41M |
| 2024-09 | $858.71K |
| 2024-08 | $4.28M |
| 2024-07 | −$47.78M |
| 2024-06 | $1.07M |
| 2024-05 | $2.18M |
C000110885 Debt Constituents
No individual debt constituents are reported in Credit Suisse Multialternative Strategy Fund's latest SEC N-PORT filing.
C000110885 Prospectus and SEC Filings
Official Credit Suisse Multialternative Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-28
- Prospectus (485BPOS) — filed 2023-02-28
- Prospectus (485BPOS) — filed 2022-02-25
- Portfolio holdings (N-PORT) — filed 2024-12-26
- Portfolio holdings (N-PORT) — filed 2024-09-27
- Portfolio holdings (N-PORT) — filed 2024-06-28
- Annual census (N-CEN) — filed 2025-01-14
- Annual census (N-CEN) — filed 2024-01-12
Related Funds
Other Long-Short funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.