UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement
Pursuant to Section 14(a) of
the Securities Exchange Act of 1934
Filed
by the Registrant x |
|
Filed
by a Party other than the Registrant ¨ |
|
Check
the appropriate box: |
¨ |
Preliminary
Proxy Statement |
¨ |
Confidential,
for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
¨ |
Definitive
Proxy Statement |
x |
Definitive
Additional Materials |
¨ |
Soliciting
Material under §240.14a-12 |
|
CREDIT
SUISSE COMMODITY STRATEGY FUNDS
CREDIT SUISSE OPPORTUNITY FUNDS
CREDIT SUISSE TRUST
CREDIT SUISSE
ASSET MANAGEMENT INCOME FUND, INC.
CREDIT SUISSE
HIGH YIELD BOND FUND |
(Name
of Registrant as Specified In Its Charter) |
|
(Name
of Person(s) Filing Proxy Statement, if other than the Registrant) |
|
Payment
of Filing Fee (Check the appropriate box): |
x |
No
fee required. |
¨ |
Fee
paid previously with preliminary materials. |
¨ |
Fee
computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. |
| Mutual
Fund
Proxy Fact
Sheet For:
|
CREDIT
SUISSE FUNDS |
Joint
Special Meeting Important Dates |
|
Joint
Special Meeting Location |
Record
Date |
JUNE
23, 2023 |
|
OFFICES
OF THE FUNDS
ELEVEN MADISON AVENUE
FLOOR 2B
NEW YORK, NEW YORK
10010 |
Mail
Date |
JULY
20, 2023 |
|
Meeting
Date |
AUGUST
24, 2023
@ 4:00 PM (ET) |
|
Additional
Information |
|
Contact
Information |
Tickers
|
SEE
PAGE 5 |
|
Inbound
Line |
1-877-674-6273 |
CUSIPs
|
SEE
PAGE 5 |
|
Website |
https://am.credit-suisse.com/ |
What are
Shareholders being asked to vote on?
ALL
FUNDS
| 1. | To
approve a new investment advisory agreement between your Fund and Credit Suisse Asset Management,
LLC; |
CREDIT
SUISSE STRATEGIC INCOME FUND ONLY
| 2. | To
approve a new sub-advisory agreement between Credit Suisse Asset Management, LLC and Credit
Suisse Asset Management Limited; |
CREDIT
SUISSE FUNDS |
|
· Credit
Suisse Commodity Return Strategy Fund, a series of Credit Suisse Commodity Strategy Funds |
· Credit
Suisse Multialternative Strategy Fund, a series of Credit Suisse Opportunity Funds |
|
|
· Credit
Suisse Floating Rate High Income Fund, a series of Credit Suisse Opportunity Funds |
· Commodity
Return Strategy Portfolio, a series of Credit Suisse Trust |
|
|
· Credit
Suisse Strategic Income Fund, a series of Credit Suisse Opportunity Funds |
· Credit
Suisse Asset Management Income Fund, Inc. |
|
|
· Credit
Suisse Managed Futures Strategy Fund, a series of Credit Suisse Opportunity Funds |
· Credit
Suisse High Yield Bond Fund |
|
|
each,
a “fund” and collectively, the “funds” |
ALL FUNDS
PROPOSAL 1:
To approve a new investment advisory agreement between your Fund and Credit Suisse Asset Management, LLC;
What are
shareholders being asked to approve?
Shareholders are
being asked to approve a new investment advisory agreement between their Fund and Credit Suisse Asset Management, LLC (“Credit
Suisse”) (each such agreement, a “New Investment Advisory Agreement”).
What is happening?
On
the Closing Date of June 12, 2023, Credit Suisse Group AG (“CS Group”) merged with
and into UBS Group AG, a global financial services company (“UBS Group”), with UBS Group remaining as the surviving company
(the “Merger”).
Immediately prior
to the Closing Date, CS Group was the ultimate parent company of Credit Suisse.
Why are shareholders
being asked to vote to approve the New Advisory Agreements?
Each Fund was party
to an investment advisory agreement with Credit Suisse prior to the Closing Date (collectively, the “Prior Advisory Agreements”).
As required by
the Investment Company Act of 1940, as amended (the “1940 Act”), each Prior Advisory Agreement provided that the agreement
would automatically terminate upon its assignment. The closing of the Merger was deemed to result in an assignment of each Prior Advisory
Agreement, resulting in its automatic termination as of the Closing Date.
Each Fund requires
shareholder approval of its New Investment Advisory Agreement for the Funds to continue to receive investment advisory services from
Credit Suisse.
Will the
Merger result in any changes in the investment objective(s), principal investment strategies or policies of the Funds?
No changes to the
investment objective(s), principal investment strategies and policies, principal risks, fundamental and non-fundamental investment policies,
of the Funds are currently contemplated as a result of the Merger.
see
also information about the ubs transition on pages 4-5
of fact sheet
How does
each Fund’s New Advisory Agreement differ from each Fund’s Prior Advisory Agreement?
Each New Advisory
Agreement will be identical to the corresponding Prior Advisory Agreement, except for the dates of execution, effectiveness and termination
and certain non-material changes.
Will the
Funds’ contractual advisory fee rates increase?
The Funds’
contractual advisory fee rates will not change as a result of its New Advisory Agreement(s).
Will the
portfolio personnel change in connection with the Merger?
No changes to the
portfolio managers (other than potential personnel changes outside of Credit Suisse’s control) are currently contemplated as a
result of the Merger.
see
also information about the ubs transition on pages 4-5
of fact sheet
Given that
the Prior Advisory Agreements terminated on the Closing Date, is there any investment advisory agreement currently in place for my Fund?
Prior to the Closing
Date, the Board of each Fund approved an interim investment advisory agreement with Credit Suisse (collectively, the “Interim Advisory
Agreements”).
The Interim Advisory
Agreements did not require shareholder approval. The Interim Advisory Agreements took effect upon the Closing Date when the Prior Advisory
Agreements were deemed to have terminated, so that Credit Suisse could continue to manage the Funds following the Closing Date.
Each Interim Advisory
Agreement will terminate upon the earlier of shareholder approval of the corresponding New Advisory Agreement or 150 days following the
Closing Date (i.e., November 9, 2023).
Each Interim Advisory
Agreement contains the same terms and conditions as the corresponding Prior Advisory Agreement except for the effective and termination
dates, the termination and escrow provisions required by Rule 15a-4 under the 1940 Act and certain nonmaterial changes. During the
period that each Interim Advisory Agreement is in effect, Credit Suisse’s advisory fees will be held in an interest-bearing escrow
account, pursuant to Rule 15a-4.
What happens
if the New Advisory Agreements are not approved by shareholders?
Shareholder approval
of a Fund’s New Investment Advisory Agreement is not contingent upon shareholder approval of any other Fund’s New Investment
Advisory Agreement.
If shareholders
of a Fund do not approve the New Advisory Agreement(s), Credit Suisse will not be able to provide investment advisory services to that
Fund after the expiration of the 150-day period following the Closing Date (which will occur on November 9, 2023), and that Fund
may be forced to liquidate.
CREDIT SUISSE STRATEGIC INCOME FUND
ONLY (“STRATEGIC INCOME FUND”)
PROPOSAL 2:
To approve a new sub-advisory agreement between Credit Suisse Asset Management, LLC and Credit Suisse Asset Management Limited;
What are
shareholders being asked to approve?
Solely with respect
to the Strategic Income Fund, shareholders are being asked to approve a new sub-advisory agreement between Credit Suisse and Credit Suisse
Asset Management Limited (“Credit Suisse UK”) with respect to the Fund (the “New Sub-Advisory Agreement”).
Why are shareholders
being asked to vote to approve the New Sub-Advisory Agreement?
Each Fund was party
to an investment advisory agreement with Credit Suisse and Credit Suisse was party to a sub-advisory agreement with Credit Suisse UK
with respect to the Strategic Income Fund prior to the Closing Date (collectively, the “Prior Advisory Agreements”).
As required by
the 1940 Act, each Prior Advisory Agreement provided that the agreement would automatically terminate upon its assignment. The closing
of the Merger was deemed to result in an assignment of each Prior Advisory Agreement, resulting in its automatic termination as of the
Closing Date.
The Strategic Income
Fund requires shareholder approval of the New Sub-Advisory Agreement for the Funds to continue to receive investment advisory services
from Credit Suisse and Credit Suisse UK.
Given that
the Prior Advisory Agreements terminated on the Closing Date, is there any investment sub-advisory agreement currently in place for the
Strategic Income Fund?
Prior to the Closing
Date, the Board approved an interim investment advisory agreement with Credit Suisse and, in the case of the Strategic Income Fund, an
interim sub-advisory agreement between Credit Suisse and Credit Suisse UK (collectively, the “Interim Advisory Agreements”).
The Interim Advisory
Agreements did not require shareholder approval. The Interim Advisory Agreements took effect upon the Closing Date when the Prior Advisory
Agreements were deemed to have terminated, so that Credit Suisse and Credit Suisse UK could continue to manage the Funds following the
Closing Date.
Each Interim Advisory
Agreement will terminate upon the earlier of shareholder approval of the corresponding New Advisory Agreement or 150 days following the
Closing Date (i.e., November 9, 2023).
Each Interim Advisory
Agreement contains the same terms and conditions as the corresponding Prior Advisory Agreement except for the effective and termination
dates, the termination and escrow provisions required by Rule 15a-4 under the 1940 Act and certain nonmaterial changes. During the
period that each Interim Advisory Agreement is in effect, Credit Suisse’s advisory fees and Credit Suisse UK’s sub-advisory
fees will be held in an interest-bearing escrow account, pursuant to Rule 15a-4.
What happens
if the New Sub-Advisory Agreement for the Strategic Income Fund is not approved by shareholders?
Shareholder approval
of the New Sub-Advisory Agreement between Credit Suisse and Credit Suisse UK with respect to the Strategic Income Fund is contingent
upon shareholder approval of the New Investment Advisory Agreement between the Strategic Income Fund and Credit Suisse.
Therefore, if the
shareholders of the Strategic Income Fund do not approve such Fund’s New Investment Advisory Agreement, then approval of the New
Sub-Advisory Agreement for the Strategic Income Fund will be deemed null and the Board of the Strategic Income Fund will then consider
whether other actions, if any, are warranted.
Who is paying
for the costs related to the Joint Special Meeting?
All costs of the
proxy and the shareholder meetings, including proxy solicitation costs, legal fees and the costs of printing and mailing the proxy statement,
will be borne by Credit Suisse.
INFORMATION
ABOUT THE UBS TRANSITION
What is the
UBS Transition about?
It is anticipated
that Credit Suisse will transition the investment advisory services that they currently provide to the Funds to one or more registered
investment advisers affiliated with UBS Group on or prior to June 12, 2024 (the “UBS Transition”).
In connection with,
or following the completion of, the UBS Transition, it is possible that there could be Fund-specific changes. However, the exact structure
and timing of the UBS Transition and Fund-specific changes (if any) related to the UBS Transition have not yet been finalized.
Any Fund-specific
changes would be implemented without shareholder approval to the extent permitted under the federal securities laws (except for any changes
to a Fund’s fundamental investment policies, which would require shareholder approval). Shareholders of a Fund will be promptly
notified of any material Fund-specific changes.
PHONE: |
To
cast your vote by telephone with a proxy specialist, call the toll-free number found on your proxy card. Representatives are
available to take your voting instructions Monday through Friday 9:00 a.m. to 10:00 p.m. Eastern Time. |
MAIL: |
To
vote your proxy by mail, check the appropriate voting box on the proxy card, sign and date the card and return it in the enclosed
postage-paid envelope. |
TOUCH-TONE: |
To
cast your vote via a touch-tone voting line, call the toll-free number and enter the control number found on your proxy
card. |
INTERNET: |
To
vote via the Internet, go to the website on your proxy card and enter the control number found on the proxy card. |
The Proxy Statement
is available online at: vote.proxyonline/CSAM/Proxy2023.pdf
AST Fund Solutions,
LLC is identified in the Proxy Statement as the proxy solicitor for the Funds.
FUND
NAME |
CLASS |
TICKER |
CUSIP |
Credit
Suisse Commodity Return Strategy Fund |
A |
CRSAX |
22544R107 |
Credit
Suisse Commodity Return Strategy Fund |
C |
CRSCX |
22544R206 |
Credit
Suisse Commodity Return Strategy Fund |
I |
CRSOX |
22544R305 |
Credit
Suisse Floating Rate High Income Fund |
A |
CHIAX |
22540S877 |
Credit
Suisse Floating Rate High Income Fund |
C |
CHICX |
22540S851 |
Credit
Suisse Floating Rate High Income Fund |
I |
CSHIX |
22540S836 |
Credit
Suisse Strategic Income Fund |
A |
CSOAX |
22540S760 |
Credit
Suisse Strategic Income Fund |
C |
CSOCX |
22540S752 |
Credit
Suisse Strategic Income Fund |
I |
CSOIX |
22540S745 |
Credit
Suisse Managed Futures Strategy Fund |
A |
CSAAX |
22540S737 |
Credit
Suisse Managed Futures Strategy Fund |
C |
CSACX |
22540S729 |
Credit
Suisse Managed Futures Strategy Fund |
I |
CSAIX |
22540S711 |
Credit
Suisse Multialternative Strategy Fund |
A |
CSQAX |
22540S794 |
Credit
Suisse Multialternative Strategy Fund |
I |
CSQIX |
22540S778 |
Commodity
Return Strategy Portfolio |
1 |
CCRSX |
22544K888 |
Commodity
Return Strategy Portfolio |
2 |
CCRRX |
22542L847 |
Credit
Suisse Asset Management Income Fund, Inc. |
NOT
APPLICABLE |
CIK |
224916106 |
Credit
Suisse High Yield Bond Fund |
NOT
APPLICABLE |
DHY |
22544F103 |
| Credit
Suisse Funds
Level I Call Guide
(CONFIRM
RECEIPT OF PROXY MATERIAL)
|
Good (morning,
afternoon, evening), my name is (AGENT’S FULL NAME).
May I please
speak with (SHAREHOLDER’S FULL NAME)?
(Re-Greet
If Necessary)
I am calling on
a recorded line regarding your current investment with Credit Suisse Funds. I wanted to confirm that you have received the proxy material
for the Joint Special Meeting of Shareholders scheduled to take place on August 24, 2023.
Have you received
the information?
(Pause for
response)
If “Yes” or positive response:
If you’re not able to attend the meeting, I can record your voting instructions by phone. |
If “No” or negative response:
I would be happy to review the meeting agenda and record your vote by phone. |
You are being asked to vote in favor of a proposal to approve the New Investment Advisory Agreement for your Fund. In addition, if you
are a shareholder of the Strategic Income Fund, you are being asked to approve the New Sub-Advisory Agreement. Each Fund's Board approved
the Fund's New Investment Advisory Agreement. Would you like vote “In Favor” at this time?
(Pause For
Response)
(Review Voting
Options with Shareholder If Necessary)
If we identify
any additional accounts you own with Credit Suisse Funds before the meeting takes place, would you like to vote those accounts in the
same manner as well?
(Pause For
Response)
*Confirmation
– I am recording your (Recap Voting Instructions). Today (Today’s Date & Time).
For confirmation
purposes:
| · | Please
state your full name. (Pause) |
| · | According
to our records, you reside in (city, state, zip code). (Pause) |
| · | To
ensure that we have the correct address for the written confirmation, please state your street
address. (Pause) |
Thank you. You
will receive written confirmation of this vote within 3 to 5 business days. Upon receipt, please review and retain for your records.
If you should have any questions, please call the toll-free number listed on the confirmation. Mr. /Ms. ___________, your vote
is important and your time is greatly appreciated. Thank you and have a good (morning, afternoon, evening.)
Updated 07-21-2023
Credit Suisse
Funds
Answering
Machine Script
Hello.
I am calling
regarding your investment with Credit Suisse Funds.
The Joint Special
Meeting of Shareholders is scheduled to take place on August 24, 2023. All shareholders are being asked to consider and vote on
an important matter. As of today, your vote has not been registered.
Please contact
us as soon as possible at 1-877-674-6273 toll-free Monday through Friday between the hours of 9:00am and 10:00pm Eastern Time.
Your vote is
very important. Thank you and have a good day.
Credit Suisse Asset Mana... (AMEX:CIK)
Historical Stock Chart
From Apr 2024 to May 2024
Credit Suisse Asset Mana... (AMEX:CIK)
Historical Stock Chart
From May 2023 to May 2024