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Credit Suisse downgrade

A RESEARCH report released by Morningstar has downgraded Credit Suisse Asset Management Limited’s asset allocation outlook to ‘neutral’. The outlook downgrade from a relatively good quality fund manager is a result of the impending retirement of Lindsay Gibson, head of balanced funds, effective from June 30 2003.

Mr Gibson is to be replaced by Neale Goldston-Morris.

“Goldston-Morris has not previously held a multi-sector asset allocation role with a fund manager, although he did prepare quarterly asset allocation reports at Deutsche Bank Australia, his previous employer,” Morningstar says.

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