a red model of 2X

Credit Suisse launches new 2x monthly leveraged Credit Suisse Merger Arbitrage Liquid Index ETN

Wed, 09/03/2011 - 11:23

Credit Suisse has launched the 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN, the first product to provide 2x monthly leveraged exposure to the merger arbitrage strategy in an exchange traded format.

The 2x Monthly Leveraged Credit Suisse Merger Arbitrage Liquid Index (Net) ETN (NYSE Arca: CSMB) is the newest edition in a suite of alternative ETN products, which seek to provide liquid access to some of the most popular alternative investment strategies. The CSMB ETN seeks to provide 2x monthly leveraged exposure to the merger arbitrage strategy as represented by the Credit Suisse Merger Arbitrage Liquid Index (Net), an index which benefits from daily valuations and a transparent rules-based construction process.

"Merger arbitrage strategies continue to generate increased investor interest due to their historically attractive risk-adjusted returns and diversification benefits. By providing leveraged exposure to the merger arbitrage strategy in an exchange traded format, investors benefit from real-time pricing, intraday liquidity and full portfolio transparency – advantages previously not associated with alternative investments," says Oliver Schupp, Head of the Beta Strategies Group which manages Credit Suisse's Liquid Alternative Beta strategies.

Michael G Clark, head of the Structured Equity Derivatives desk in the Investment Bank, which is launching the ETN, added, "We are proud to lead the market with innovative exchange traded products that fill a void for investors seeking more transparent and cost effective access to the alternatives space. We are excited to introduce the CSMB ETN as the next innovative offering in our product line-up."


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