Credit Suisse Asset Management, the funds division of the Swiss bank, made a loss of Sfr247m (â¬161m) in the fourth quarter last year, compared to a profit of Sfr89m in the same period of 2006, after it was forced to buy distressed assets from money market funds that were facing liquidity pressures.
For the full year 2007, the funds division reported income before taxes of Sfr354m, a decrease of 30% compared to 2006.
