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Credit Suisse launches ETN with liquid exposure to merger arbitrage strategy

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Credit Suisse has launched the Credit Suisse Merger Arbitrage Liquid Index (Net) ETN, one of the first vehicles to offer investors access to the merger arbitrage strategy in a liquid, exchange-traded format.

 

Credit Suisse’s investment banking division is launching the ETN on one of the Asset Management Liquid Alternative Beta Indices. 

The ETN is designed to correlate, subject to fees, to the performance of the Credit Suisse Merger Arbitrage Liquid Index (Net) which aims to gain broad exposure to the merger arbitrage strategy by using a quantitative methodology.

The ETN joins the existing Credit Suisse Long/Short Liquid Index (Net) ETN to become the second in a suite of alternative ETN products.

Michael G. Clark, head of the structured equity derivatives desk in the investment bank, which is launching the ETN, says: “Historically, merger arbitrage strategies have provided attractive risk-adjusted returns, effectively allowing investors to diversify their equity exposure; however, complex structures and infrequent liquidity have made this sector difficult to access. We are excited to offer a product which provides liquid access to this strategy, especially in the current volatile market environment.”

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