The Swiss banking group Syz & Co has added four sub-funds to its Oyster fund family and has established a second experimental Sicav to act as a testing ground for new products.
The four new sub-funds cover credit, convertible bonds, market neutral and small cap US. They are currently being registered in various European countries, including Switzerland.
The second, laboratory Sicav is not intended to be sold to the public at large but acts as a nursery for new talent or strategies. This allows new products to be tested under real conditions and to establish a track record before offering them to investors. The second Sicav already numbers seven sub-funds.
Assets under management of Syz & Co’s Oyster funds family exceeded CHF5bn (EUR3.3bn) at the end of September, with net inflows of more than CHF1bn in the first nine months of 2009. This represents a 61 per cent growth since the end of 2008.