fund factbook luxembourg funds data as at … factbook luxembourg funds data as at september ......

booklet issuerId channelId languageId perDateFund Factbook9926 9910 2 20120928

Fund FactbookLuxembourg FundsData as at September 2012

OverviewContents 3

Fund Information 6

Credit Suisse Bond FundCredit Suisse Bond Fund (Lux) High Yield US$ B 22

Credit Suisse Bond Fund (Lux) High Yield US$ I 24

Credit Suisse Bond Fund (Lux) High Yield US$ R EUR 26

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) B 28

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) I 30

Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr) B 32

Credit Suisse Bond Fund (Lux) Inflation Linked (US$) B 34

Credit Suisse Bond Fund (Lux) Sfr B 36

Credit Suisse Bond Fund (Lux) Short-Term Sfr B 38

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Euro) B 40

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Sfr) B 42

Credit Suisse Bond Fund (Lux) Corporate Short Duration (US$) B 44

Credit Suisse Equity FundCredit Suisse Equity Fund (Lux) European Property B 46

Credit Suisse Equity Fund (Lux) European Property I 48

Credit Suisse Equity Fund (Lux) Global Prestige B 50

Credit Suisse Equity Fund (Lux) Global Prestige R USD 52

Credit Suisse Equity Fund (Lux) Global Security B 54

Credit Suisse Equity Fund (Lux) Global Security R CHF 56

Credit Suisse Equity Fund (Lux) Global Security R EUR 58

Credit Suisse Equity Fund (Lux) Global Value B 60

Credit Suisse Equity Fund (Lux) Global Value I 62

Credit Suisse Equity Fund (Lux) Global Value R CHF 64

Credit Suisse Equity Fund (Lux) Global Value R CZK 66

Credit Suisse Equity Fund (Lux) Global Value R USD 68

Credit Suisse Equity Fund (Lux) Italy I 70

Credit Suisse Equity Fund (Lux) Small and Mid Cap Europe B 72

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany B 74

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany I 76

Credit Suisse Equity Fund (Lux) USA B 78

Credit Suisse Equity Fund (Lux) USA I 80

Credit Suisse Equity Fund (Lux) USA R EUR 82

Credit Suisse Equity Fund (Lux) USA Value B 84

Credit Suisse Equity Fund (Lux) USA Value I 86

Credit Suisse Equity Fund (Lux) USA Value R EUR 88

CS ETFCS ETF (Lux) on MSCI EMU Large Cap 90

CS ETF (Lux) on MSCI EMU Mid Cap 91

Credit Suisse FundCredit Suisse Fund (Lux) Bond Medium Maturity USD B 92

Credit Suisse Fund (Lux) Bond Short Maturity EUR B 94

Credit Suisse Fund (Lux) Bond Short Maturity USD B 96

Credit Suisse Fund (Lux) Bond EUR B 98

Credit Suisse Fund (Lux) Bond USD B 100

Credit Suisse Fund (Lux) Fixed Income Cycle Invest B 102

Credit Suisse Fund (Lux) Fixed Income Cycle Invest I 104

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R CHF 106

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R USD 108

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) B 110

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) I 112

Credit Suisse Fund (Lux) Commodity Index Plus (US$) B 114

Credit Suisse Fund (Lux) Commodity Index Plus (US$) I 116

Credit Suisse Fund (Lux) Commodity Index Plus (US$) R EUR 118

Credit Suisse Fund (Lux) Commodity Index Plus (US$) S EUR 120

Credit Suisse Fund (Lux) Global Responsible Equities B 122

Credit Suisse Fund (Lux) Global Responsible Equities I 124

Credit Suisse Fund (Lux) Money Market EUR B 126

Credit Suisse Fund (Lux) Money Market EUR I 128

Credit Suisse Fund (Lux) Money Market Sfr B 130

Credit Suisse Fund (Lux) Money Market USD B 132

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) B 134

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) I 136

Credit Suisse Fund (Lux) Relative Return Engineered (Sfr) B 138

Credit Suisse Fund (Lux) Relative Return Engineered (US$) B 140

Credit Suisse Fund (Lux) Total Return Engineered (Euro) B 142

Credit Suisse Fund (Lux) Target Volatility (Euro) B 144

Credit Suisse Fund (Lux) Target Volatility (Euro) I 146

Credit Suisse Fund (Lux) Target Volatility (Euro) R CHF 148

Credit Suisse NovaCredit Suisse Nova (Lux) Commodity Plus USD I 150

Credit Suisse FundCredit Suisse Fund (Lux) Target Volatility (Euro) R USD 152

Credit Suisse NovaCredit Suisse Nova (Lux) Enhanced Fixed Income (CHF) B 154

Credit Suisse Nova (Lux) Enhanced Fixed Income (EUR) B 155

Credit Suisse Nova (Lux) Enhanced Fixed Income (USD) B 156

Credit Suisse Nova (Lux) FoF Equity Emerging Markets B 157

Credit Suisse Nova (Lux) FoF Equity Japan B 159

Credit Suisse Portfolio FundCredit Suisse Portfolio Fund (Lux) Balanced (Euro) B 161

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) B 163

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) I 165

Credit Suisse Portfolio Fund (Lux) Balanced (US$) B 167

Credit Suisse Portfolio Fund (Lux) Growth (Euro) B 169

Credit Suisse Portfolio Fund (Lux) Growth (Sfr) B 171

Credit Suisse Portfolio Fund (Lux) Growth (US$) B 173

Credit Suisse Portfolio Fund (Lux) Income (Euro) B 175

Credit Suisse Portfolio Fund (Lux) Income (Sfr) B 177

Ove

rvie

w

3

Credit Suisse Portfolio Fund (Lux) Income (Sfr) I 179

Credit Suisse Portfolio Fund (Lux) Income (US$) B 181

Credit Suisse Portfolio Fund (Lux) Reddito (Euro) B 183

Credit Suisse Prime Select TrustCredit Suisse Prime Select Trust (Lux) Global Equities Long/Short B 185

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R CHF 186

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R EUR 187

Credit Suisse Prime Select Trust (Lux) Multi Strategy 188

Credit Suisse Prime Select Trust (Lux) Multi Strategy I 189

Credit Suisse Prime Select Trust (Lux) Multi Strategy R CHF 190

Credit Suisse Prime Select Trust (Lux) Multi Strategy R EUR 191

Credit Suisse Prime Select Trust (Lux) Multi Strategy R GBP 192

Credit Suisse SICAV OneCredit Suisse SICAV One (Lux) CommodityAllocation B 193

Credit Suisse SICAV One (Lux) CommodityAllocation R CHF 195

Credit Suisse SICAV One (Lux) CommodityAllocation R EUR 197

Credit Suisse SICAV One (Lux) Equity Eurozone B 199

Credit Suisse SICAV One (Lux) Equity Eurozone I 201

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property B 203

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property I 205

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R CHF 207

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R EUR 209

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets B 211

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets I 213

Credit Suisse SICAV One (Lux) Equity Japan Value B 215

Credit Suisse SICAV One (Lux) European Equity Dividend Plus B 217

Credit Suisse SICAV One (Lux) European Equity Dividend Plus I 219

Credit Suisse SICAV One (Lux) European Equity Dividend Plus R CHF 221

Credit Suisse SICAV One (Lux) Global Convertibles B 223

Credit Suisse SICAV One (Lux) Global Convertibles R CHF 225

Credit Suisse SICAV One (Lux) Global Convertibles R EUR 227

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus B 229

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus R CHF 231

Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr) B 233

Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Sfr) B 234

Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr) B 235

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short B 236

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R CHF 238

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R USD 240

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short I 242

Credit Suisse Fund ICredit Suisse Fund I (Lux) Bond Global Corporates B 244

Credit Suisse Fund I (Lux) Bond Global Corporates R CHF 246

Credit Suisse Fund I (Lux) Bond Global Corporates R USD 248

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR B 250

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR I 252

Credit Suisse Fund I (Lux) Floating Rate Strategy USD B 254

Credit Suisse Fund I (Lux) Floating Rate Strategy USD I 256

Credit Suisse Fund I (Lux) Bond Emerging Markets A 258

Credit Suisse Fund I (Lux) Bond Emerging Markets R CHF 260

Credit Suisse Fund I (Lux) Bond Emerging Markets R EUR 262

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade B 264

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade I 266

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R CHF 268

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R EUR 270

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B 272

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B EUR 274

Credit Suisse Fund I (Lux) Bond European High Yield A 276

Credit Suisse SolutionsCredit Suisse Solutions (Lux) Prima Multi-Strategy B EUR 278

Credit Suisse Solutions (Lux) Prima Multi-Strategy R CHF 279

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R EUR 280

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index B 281

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index I 282

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R CHF 283

Credit Suisse Solutions (Lux) Megatrends B 284

Credit Suisse Solutions (Lux) Megatrends I 286

Credit Suisse Solutions (Lux) Megatrends R CHF 288

Credit Suisse Solutions (Lux) Megatrends R EUR 290

Credit Suisse Solutions (Lux) Megatrends R GBP 292

Credit Suisse Solutions (Lux) Prima Multi-Strategy I EUR 294

Credit Suisse Solutions (Lux) Prima Multi-Strategy R USD 295

Credit Suisse Solutions (Lux) Prima Multi-Strategy R GBP 296

Credit Suisse SICAVCredit Suisse SICAV (Lux) Equity Russia B 297

Credit Suisse SICAV (Lux) Equity Russia B RUB 299

Credit Suisse SICAV (Lux) Equity Russia R EUR 301

Credit Suisse SICAV (Lux) Equity Russia I 303

Credit Suisse SICAV (Lux) Equity Asia Consumer B 305

Credit Suisse SICAV (Lux) Equity Asia Consumer R EUR 307

Credit Suisse SICAV (Lux) Equity Asia Consumer R CHF 309

Credit Suisse SICAV (Lux) Equity Luxury Goods B USD 311

Credit Suisse SICAV (Lux) Equity Luxury Goods B EUR 313

Credit Suisse SICAV (Lux) Asian Equity Dividend Plus B 315

Credit Suisse SICAV (Lux) Equity Biotechnology B 317

Credit Suisse SICAV (Lux) Equity Biotechnology R EUR 319

Credit Suisse SICAV (Lux) Equity Biotechnology I 321

InformationGlossary 324

Factsheet Explained 326

Important Information 328

Contacts 330

Contents

4

Fund Informationat 28/09/2012

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement

fee p.a.Subscription

fee ISINSwiss security

number

Credit Suisse Bond FundCredit Suisse Bond Fund (Lux) High Yield US$ B B 13/10/2000 USD 480.12m Thomas Flannery 1.20% Max 5.00% LU0116737759 1111396

Credit Suisse Bond Fund (Lux) High Yield US$ I I 06/09/2001 USD 480.12m Thomas Flannery 0.70% Max 3.00% LU0116737916 1126445

Credit Suisse Bond Fund (Lux) High Yield US$ R EUR R 31/10/2011 EUR 373.61m Thomas Flannery 1.20% Max 5.00% LU0697137932 14142509

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) A A 25/09/2003 EUR 375.57m Alexandre Bouchardy 1.00% Max 5.00% LU0175163376 1664152

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) B B 25/09/2003 EUR 375.57m Alexandre Bouchardy 1.00% Max 5.00% LU0175163459 1664154

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) I I 24/10/2003 EUR 375.57m Alexandre Bouchardy 0.50% Max 3.00% LU0175163616 1664158

Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr) A A 25/09/2003 CHF 575.29m Alexandre Bouchardy 0.75% Max 5.00% LU0175163707 1664162

Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr) B B 25/09/2003 CHF 575.29m Alexandre Bouchardy 0.75% Max 5.00% LU0175163889 1664165

Credit Suisse Bond Fund (Lux) Inflation Linked (US$) A A 25/09/2003 USD 407.28m Alexandre Bouchardy 1.00% Max 5.00% LU0175164184 1664179

Credit Suisse Bond Fund (Lux) Inflation Linked (US$) B B 25/09/2003 USD 407.28m Alexandre Bouchardy 1.00% Max 5.00% LU0175164267 1664183

Credit Suisse Bond Fund (Lux) Sfr A A 01/11/1991 CHF 913.24m Eric Suter 0.90% Max 5.00% LU0049528473 348875

Credit Suisse Bond Fund (Lux) Sfr B B 01/11/1991 CHF 913.24m Eric Suter 0.90% Max 5.00% LU0049527079 348879

Credit Suisse Bond Fund (Lux) Short-Term Sfr A A 08/12/1995 CHF 431.09m Eric Suter 0.45% Max 5.00% LU0061315221 415448

Credit Suisse Bond Fund (Lux) Short-Term Sfr B B 08/12/1995 CHF 431.09m Eric Suter 0.45% Max 5.00% LU0061315650 415450

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Euro) A A 13/12/2002 EUR 117.22m Maurizio Pedrini 0.70% Max 5.00% LU0155950867 1498937

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Euro) B B 13/12/2002 EUR 117.22m Maurizio Pedrini 0.70% Max 5.00% LU0155951089 1498940

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Sfr) A A 13/12/2002 CHF 210.44m Maurizio Pedrini 0.50% Max 5.00% LU0155951675 1498944

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Sfr) B B 13/12/2002 CHF 210.44m Maurizio Pedrini 0.50% Max 5.00% LU0155952053 1498946

Credit Suisse Bond Fund (Lux) Corporate Short Duration (US$) A A 13/12/2002 USD 109.72m Maurizio Pedrini 0.70% Max 5.00% LU0155953028 1498949

Credit Suisse Bond Fund (Lux) Corporate Short Duration (US$) B B 13/12/2002 USD 109.72m Maurizio Pedrini 0.70% Max 5.00% LU0155953705 1498955

Credit Suisse Equity FundCredit Suisse Equity Fund (Lux) European Property B B 06/07/2001 EUR 27.80m Frederik De Block 1.92% Max 5.00% LU0129337381 1235387

Credit Suisse Equity Fund (Lux) European Property I I 06/07/2001 EUR 27.80m Frederik De Block 0.90% Max 3.00% LU0129337548 1235389

Credit Suisse Equity Fund (Lux) Global Prestige B B 07/07/2006 EUR 216.58m Patrick Kolb, Marjorie Sonigo 1.92% Max 5.00% LU0254360752 2556553

Credit Suisse Equity Fund (Lux) Global Prestige R USD R 29/05/2007 USD 278.32m Patrick Kolb, Marjorie Sonigo 1.92% Max 5.00% LU0254364663 2556566

Credit Suisse Equity Fund (Lux) Global Security B B 19/10/2006 USD 61.33m Patrick Kolb 1.92% Max 5.00% LU0269899067 2728058

Credit Suisse Equity Fund (Lux) Global Security R CHF R 19/10/2006 CHF 57.67m Patrick Kolb 1.92% Max 5.00% LU0269899737 2728102

6

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Bond FundCredit Suisse Bond Fund (Lux) High Yield US$ B B 13/10/2000 USD 480.12m Thomas Flannery 1.20% Max 5.00% LU0116737759 1111396

Credit Suisse Bond Fund (Lux) High Yield US$ I I 06/09/2001 USD 480.12m Thomas Flannery 0.70% Max 3.00% LU0116737916 1126445

Credit Suisse Bond Fund (Lux) High Yield US$ R EUR R 31/10/2011 EUR 373.61m Thomas Flannery 1.20% Max 5.00% LU0697137932 14142509

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) A A 25/09/2003 EUR 375.57m Alexandre Bouchardy 1.00% Max 5.00% LU0175163376 1664152

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) B B 25/09/2003 EUR 375.57m Alexandre Bouchardy 1.00% Max 5.00% LU0175163459 1664154

Credit Suisse Bond Fund (Lux) Inflation Linked (Euro) I I 24/10/2003 EUR 375.57m Alexandre Bouchardy 0.50% Max 3.00% LU0175163616 1664158

Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr) A A 25/09/2003 CHF 575.29m Alexandre Bouchardy 0.75% Max 5.00% LU0175163707 1664162

Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr) B B 25/09/2003 CHF 575.29m Alexandre Bouchardy 0.75% Max 5.00% LU0175163889 1664165

Credit Suisse Bond Fund (Lux) Inflation Linked (US$) A A 25/09/2003 USD 407.28m Alexandre Bouchardy 1.00% Max 5.00% LU0175164184 1664179

Credit Suisse Bond Fund (Lux) Inflation Linked (US$) B B 25/09/2003 USD 407.28m Alexandre Bouchardy 1.00% Max 5.00% LU0175164267 1664183

Credit Suisse Bond Fund (Lux) Sfr A A 01/11/1991 CHF 913.24m Eric Suter 0.90% Max 5.00% LU0049528473 348875

Credit Suisse Bond Fund (Lux) Sfr B B 01/11/1991 CHF 913.24m Eric Suter 0.90% Max 5.00% LU0049527079 348879

Credit Suisse Bond Fund (Lux) Short-Term Sfr A A 08/12/1995 CHF 431.09m Eric Suter 0.45% Max 5.00% LU0061315221 415448

Credit Suisse Bond Fund (Lux) Short-Term Sfr B B 08/12/1995 CHF 431.09m Eric Suter 0.45% Max 5.00% LU0061315650 415450

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Euro) A A 13/12/2002 EUR 117.22m Maurizio Pedrini 0.70% Max 5.00% LU0155950867 1498937

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Euro) B B 13/12/2002 EUR 117.22m Maurizio Pedrini 0.70% Max 5.00% LU0155951089 1498940

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Sfr) A A 13/12/2002 CHF 210.44m Maurizio Pedrini 0.50% Max 5.00% LU0155951675 1498944

Credit Suisse Bond Fund (Lux) Corporate Short Duration (Sfr) B B 13/12/2002 CHF 210.44m Maurizio Pedrini 0.50% Max 5.00% LU0155952053 1498946

Credit Suisse Bond Fund (Lux) Corporate Short Duration (US$) A A 13/12/2002 USD 109.72m Maurizio Pedrini 0.70% Max 5.00% LU0155953028 1498949

Credit Suisse Bond Fund (Lux) Corporate Short Duration (US$) B B 13/12/2002 USD 109.72m Maurizio Pedrini 0.70% Max 5.00% LU0155953705 1498955

Credit Suisse Equity FundCredit Suisse Equity Fund (Lux) European Property B B 06/07/2001 EUR 27.80m Frederik De Block 1.92% Max 5.00% LU0129337381 1235387

Credit Suisse Equity Fund (Lux) European Property I I 06/07/2001 EUR 27.80m Frederik De Block 0.90% Max 3.00% LU0129337548 1235389

Credit Suisse Equity Fund (Lux) Global Prestige B B 07/07/2006 EUR 216.58m Patrick Kolb, Marjorie Sonigo 1.92% Max 5.00% LU0254360752 2556553

Credit Suisse Equity Fund (Lux) Global Prestige R USD R 29/05/2007 USD 278.32m Patrick Kolb, Marjorie Sonigo 1.92% Max 5.00% LU0254364663 2556566

Credit Suisse Equity Fund (Lux) Global Security B B 19/10/2006 USD 61.33m Patrick Kolb 1.92% Max 5.00% LU0269899067 2728058

Credit Suisse Equity Fund (Lux) Global Security R CHF R 19/10/2006 CHF 57.67m Patrick Kolb 1.92% Max 5.00% LU0269899737 2728102

Info

rmat

ion

7


Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Equity FundCredit Suisse Equity Fund (Lux) Global Security R EUR R 19/10/2006 EUR 47.73m Patrick Kolb 1.92% Max 5.00% LU0269899570 2728094

Credit Suisse Equity Fund (Lux) Global Value B B 08/06/2001 EUR 291.13m Gregor Trachsel 1.92% Max 5.00% LU0129338272 1235254

Credit Suisse Equity Fund (Lux) Global Value I I 16/01/2007 EUR 291.13m Gregor Trachsel 0.90% Max 3.00% LU0129339833 1235366

Credit Suisse Equity Fund (Lux) Global Value R CHF R 18/10/2006 CHF 351.81m Gregor Trachsel 1.92% Max 5.00% LU0268334421 2705191

Credit Suisse Equity Fund (Lux) Global Value R CZK R 19/11/2009 CZK 7,313.94m Gregor Trachsel 1.92% Max 5.00% LU0458681094 10665619

Credit Suisse Equity Fund (Lux) Global Value R USD R 18/10/2006 USD 374.12m Gregor Trachsel 1.92% Max 5.00% LU0268334777 2705196

Credit Suisse Equity Fund (Lux) Italy I I 19/10/2007 EUR 36.88m Stefano Andreani 0.70% Max 3.00% LU0108801654 1057956

Credit Suisse Equity Fund (Lux) Small and Mid Cap Europe B B 28/01/1994 EUR 65.38m Jan Berg 1.92% Max 5.00% LU0048365026 140168

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany B B 26/08/1994 EUR 238.11m Felix Meier 1.92% Max 5.00% LU0052265898 248590

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany I I 29/08/2005 EUR 238.11m Felix Meier 0.90% Max 3.00% LU0108803940 1057945

Credit Suisse Equity Fund (Lux) USA B B 07/06/1991 USD 612.91m Marcello Musio 1.25% Max 5.00% LU0055732977 349533

Credit Suisse Equity Fund (Lux) USA I I 14/04/2000 USD 612.91m Marcello Musio 0.65% Max 3.00% LU0108804591 1057955

Credit Suisse Equity Fund (Lux) USA R EUR R 31/05/2002 EUR 476.94m Marcello Musio 1.25% Max 5.00% LU0145374574 1402727

Credit Suisse Equity Fund (Lux) USA Value B B 30/03/2004 USD 111.83m Gregor Trachsel 1.92% Max 5.00% LU0187731129 1806067

Credit Suisse Equity Fund (Lux) USA Value I I 19/10/2007 USD 111.83m Gregor Trachsel 0.90% Max 3.00% LU0187731806 1806073

Credit Suisse Equity Fund (Lux) USA Value R EUR R 27/06/2011 EUR 87.02m Gregor Trachsel 1.92% Max 5.00% LU0187731558 1806069

CS ETFCS ETF (Lux) on MSCI EMU Large Cap A 23/10/2002 EUR 272.50m Credit Suisse AG, Index Solutions Team 0.40% Max 5.00% LU0154139132 1480005

CS ETF (Lux) on MSCI EMU Mid Cap A 17/09/2007 EUR 111.64m Credit Suisse AG, Index Solutions Team 0.40% Max 5.00% LU0312694234 3280326

Credit Suisse FundCredit Suisse Fund (Lux) Bond Medium Maturity USD A A 16/08/2011 USD 85.19m Luc Mathys 0.45% Max 5.00% LU0650597205 13405131

Credit Suisse Fund (Lux) Bond Medium Maturity USD B B 16/08/2011 USD 85.19m Luc Mathys 0.45% Max 5.00% LU0650597387 13405132

Credit Suisse Fund (Lux) Bond Short Maturity EUR A A 17/05/2010 EUR 195.29m Luc Mathys 0.40% Max 5.00% LU0480842656 10948649

Credit Suisse Fund (Lux) Bond Short Maturity EUR B B 17/05/2010 EUR 195.29m Luc Mathys 0.40% Max 5.00% LU0480842730 10948813

Credit Suisse Fund (Lux) Bond Short Maturity USD A A 17/05/2010 USD 247.20m Luc Mathys 0.40% Max 5.00% LU0480843209 10949399

Credit Suisse Fund (Lux) Bond Short Maturity USD B B 17/05/2010 USD 247.20m Luc Mathys 0.40% Max 5.00% LU0480843381 10949403

Credit Suisse Fund (Lux) Bond EUR A A 31/05/2012 EUR 412.18m Michel Berger 0.50% Max 5.00% LU0650586935 13404999

8

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Equity FundCredit Suisse Equity Fund (Lux) Global Security R EUR R 19/10/2006 EUR 47.73m Patrick Kolb 1.92% Max 5.00% LU0269899570 2728094

Credit Suisse Equity Fund (Lux) Global Value B B 08/06/2001 EUR 291.13m Gregor Trachsel 1.92% Max 5.00% LU0129338272 1235254

Credit Suisse Equity Fund (Lux) Global Value I I 16/01/2007 EUR 291.13m Gregor Trachsel 0.90% Max 3.00% LU0129339833 1235366

Credit Suisse Equity Fund (Lux) Global Value R CHF R 18/10/2006 CHF 351.81m Gregor Trachsel 1.92% Max 5.00% LU0268334421 2705191

Credit Suisse Equity Fund (Lux) Global Value R CZK R 19/11/2009 CZK 7,313.94m Gregor Trachsel 1.92% Max 5.00% LU0458681094 10665619

Credit Suisse Equity Fund (Lux) Global Value R USD R 18/10/2006 USD 374.12m Gregor Trachsel 1.92% Max 5.00% LU0268334777 2705196

Credit Suisse Equity Fund (Lux) Italy I I 19/10/2007 EUR 36.88m Stefano Andreani 0.70% Max 3.00% LU0108801654 1057956

Credit Suisse Equity Fund (Lux) Small and Mid Cap Europe B B 28/01/1994 EUR 65.38m Jan Berg 1.92% Max 5.00% LU0048365026 140168

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany B B 26/08/1994 EUR 238.11m Felix Meier 1.92% Max 5.00% LU0052265898 248590

Credit Suisse Equity Fund (Lux) Small and Mid Cap Germany I I 29/08/2005 EUR 238.11m Felix Meier 0.90% Max 3.00% LU0108803940 1057945

Credit Suisse Equity Fund (Lux) USA B B 07/06/1991 USD 612.91m Marcello Musio 1.25% Max 5.00% LU0055732977 349533

Credit Suisse Equity Fund (Lux) USA I I 14/04/2000 USD 612.91m Marcello Musio 0.65% Max 3.00% LU0108804591 1057955

Credit Suisse Equity Fund (Lux) USA R EUR R 31/05/2002 EUR 476.94m Marcello Musio 1.25% Max 5.00% LU0145374574 1402727

Credit Suisse Equity Fund (Lux) USA Value B B 30/03/2004 USD 111.83m Gregor Trachsel 1.92% Max 5.00% LU0187731129 1806067

Credit Suisse Equity Fund (Lux) USA Value I I 19/10/2007 USD 111.83m Gregor Trachsel 0.90% Max 3.00% LU0187731806 1806073

Credit Suisse Equity Fund (Lux) USA Value R EUR R 27/06/2011 EUR 87.02m Gregor Trachsel 1.92% Max 5.00% LU0187731558 1806069

CS ETFCS ETF (Lux) on MSCI EMU Large Cap A 23/10/2002 EUR 272.50m Credit Suisse AG, Index Solutions Team 0.40% Max 5.00% LU0154139132 1480005

CS ETF (Lux) on MSCI EMU Mid Cap A 17/09/2007 EUR 111.64m Credit Suisse AG, Index Solutions Team 0.40% Max 5.00% LU0312694234 3280326

Credit Suisse FundCredit Suisse Fund (Lux) Bond Medium Maturity USD A A 16/08/2011 USD 85.19m Luc Mathys 0.45% Max 5.00% LU0650597205 13405131

Credit Suisse Fund (Lux) Bond Medium Maturity USD B B 16/08/2011 USD 85.19m Luc Mathys 0.45% Max 5.00% LU0650597387 13405132

Credit Suisse Fund (Lux) Bond Short Maturity EUR A A 17/05/2010 EUR 195.29m Luc Mathys 0.40% Max 5.00% LU0480842656 10948649

Credit Suisse Fund (Lux) Bond Short Maturity EUR B B 17/05/2010 EUR 195.29m Luc Mathys 0.40% Max 5.00% LU0480842730 10948813

Credit Suisse Fund (Lux) Bond Short Maturity USD A A 17/05/2010 USD 247.20m Luc Mathys 0.40% Max 5.00% LU0480843209 10949399

Credit Suisse Fund (Lux) Bond Short Maturity USD B B 17/05/2010 USD 247.20m Luc Mathys 0.40% Max 5.00% LU0480843381 10949403

Credit Suisse Fund (Lux) Bond EUR A A 31/05/2012 EUR 412.18m Michel Berger 0.50% Max 5.00% LU0650586935 13404999

Info

rmat

ion

9


Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse FundCredit Suisse Fund (Lux) Bond EUR B B 31/05/2012 EUR 412.18m Michel Berger 0.50% Max 5.00% LU0650587073 13405038

Credit Suisse Fund (Lux) Bond USD A A 16/08/2011 USD 294.46m Michel Berger 0.50% Max 5.00% LU0650589442 13405060

Credit Suisse Fund (Lux) Bond USD B B 16/08/2011 USD 294.46m Michel Berger 0.50% Max 5.00% LU0650589525 13405061

Credit Suisse Fund (Lux) Fixed Income Cycle Invest A A 11/02/2011 EUR 347.16m Oliver Gasser 1.00% Max 5.00% LU0563098960 12052847

Credit Suisse Fund (Lux) Fixed Income Cycle Invest B B 11/02/2011 EUR 347.16m Oliver Gasser 1.00% Max 5.00% LU0563099182 12052852

Credit Suisse Fund (Lux) Fixed Income Cycle Invest I I 11/02/2011 EUR 347.16m Oliver Gasser 0.57% Max 3.00% LU0563099695 12052870

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R CHF R 11/02/2011 CHF 419.52m Oliver Gasser 1.00% Max 5.00% LU0563100022 12052874

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R USD R 11/02/2011 USD 446.13m Oliver Gasser 1.00% Max 5.00% LU0563100378 12052893

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) B B 07/11/2005 CHF 252.72m Christopher Burton, Nelson Louie 1.40% Max 5.00% LU0230917477 2288450

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) I I 27/01/2006 CHF 252.72m Christopher Burton, Nelson Louie 0.40% Max 3.00% LU0230917808 2288455

Credit Suisse Fund (Lux) Commodity Index Plus (US$) B B 07/11/2005 USD 505.26m Nelson Louie, Christopher Burton 1.40% Max 5.00% LU0230918368 2288457

Credit Suisse Fund (Lux) Commodity Index Plus (US$) I I 31/07/2006 USD 505.26m Nelson Louie, Christopher Burton 0.40% Max 3.00% LU0230918954 2288461

Credit Suisse Fund (Lux) Commodity Index Plus (US$) R EUR R 17/04/2012 EUR 393.18m Nelson Louie, Christopher Burton 1.40% Max 5.00% LU0755570602 18118457

Credit Suisse Fund (Lux) Commodity Index Plus (US$) S EUR S 17/04/2012 EUR 393.18m Nelson Louie, Christopher Burton 0.40% Max 3.00% LU0755571592 18118539

Credit Suisse Fund (Lux) Global Responsible Equities B B 15/01/2009 EUR 92.60m iMACS Funds Team 1.92% Max 5.00% LU0395641813 4751729

Credit Suisse Fund (Lux) Global Responsible Equities I I 13/11/2009 EUR 92.60m iMACS Funds Team 0.75% Max 3.00% LU0395641904 4751734

Credit Suisse Fund (Lux) Money Market EUR B B 16/08/2011 EUR 460.46m Romeo Sakac 0.30% Max 5.00% LU0650600199 13405155

Credit Suisse Fund (Lux) Money Market EUR I I 16/08/2011 EUR 460.46m Romeo Sakac 0.25% Max 5.00% LU0650600512 13405159

Credit Suisse Fund (Lux) Money Market Sfr B B 02/08/2010 CHF 841.59m Eric Suter 0.05% Max 5.00% LU0507202330 11273207

Credit Suisse Fund (Lux) Money Market USD B B 16/08/2011 USD 432.66m Romeo Sakac 0.15% Max 5.00% LU0650600785 13405161

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) B B 24/03/2006 EUR 410.02m Daniele Paglia 1.00% Max 5.00% LU0230911603 2288515

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) I I 16/01/2007 EUR 410.02m Daniele Paglia 0.50% Max 3.00% LU0230912163 2288520

Credit Suisse Fund (Lux) Relative Return Engineered (Sfr) B B 08/06/2007 CHF 187.73m Daniele Paglia 1.00% Max 5.00% LU0230912676 2288523

Credit Suisse Fund (Lux) Relative Return Engineered (US$) B B 16/07/2009 USD 60.01m Daniele Paglia 1.00% Max 5.00% LU0230913302 2288527

Credit Suisse Fund (Lux) Total Return Engineered (Euro) B B 24/03/2006 EUR 9.66m Daniele Paglia 1.20% Max 5.00% LU0230914029 2288539

Credit Suisse Fund (Lux) Target Volatility (Euro) B B 30/06/2005 EUR 47.48m Giuseppe Patara 1.30% Max 5.00% LU0222452368 2187281

Credit Suisse Fund (Lux) Target Volatility (Euro) I I 22/08/2006 EUR 47.48m Giuseppe Patara 0.60% Max 3.00% LU0222452954 2187286

10

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse FundCredit Suisse Fund (Lux) Bond EUR B B 31/05/2012 EUR 412.18m Michel Berger 0.50% Max 5.00% LU0650587073 13405038

Credit Suisse Fund (Lux) Bond USD A A 16/08/2011 USD 294.46m Michel Berger 0.50% Max 5.00% LU0650589442 13405060

Credit Suisse Fund (Lux) Bond USD B B 16/08/2011 USD 294.46m Michel Berger 0.50% Max 5.00% LU0650589525 13405061

Credit Suisse Fund (Lux) Fixed Income Cycle Invest A A 11/02/2011 EUR 347.16m Oliver Gasser 1.00% Max 5.00% LU0563098960 12052847

Credit Suisse Fund (Lux) Fixed Income Cycle Invest B B 11/02/2011 EUR 347.16m Oliver Gasser 1.00% Max 5.00% LU0563099182 12052852

Credit Suisse Fund (Lux) Fixed Income Cycle Invest I I 11/02/2011 EUR 347.16m Oliver Gasser 0.57% Max 3.00% LU0563099695 12052870

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R CHF R 11/02/2011 CHF 419.52m Oliver Gasser 1.00% Max 5.00% LU0563100022 12052874

Credit Suisse Fund (Lux) Fixed Income Cycle Invest R USD R 11/02/2011 USD 446.13m Oliver Gasser 1.00% Max 5.00% LU0563100378 12052893

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) B B 07/11/2005 CHF 252.72m Christopher Burton, Nelson Louie 1.40% Max 5.00% LU0230917477 2288450

Credit Suisse Fund (Lux) Commodity Index Plus (Sfr) I I 27/01/2006 CHF 252.72m Christopher Burton, Nelson Louie 0.40% Max 3.00% LU0230917808 2288455

Credit Suisse Fund (Lux) Commodity Index Plus (US$) B B 07/11/2005 USD 505.26m Nelson Louie, Christopher Burton 1.40% Max 5.00% LU0230918368 2288457

Credit Suisse Fund (Lux) Commodity Index Plus (US$) I I 31/07/2006 USD 505.26m Nelson Louie, Christopher Burton 0.40% Max 3.00% LU0230918954 2288461

Credit Suisse Fund (Lux) Commodity Index Plus (US$) R EUR R 17/04/2012 EUR 393.18m Nelson Louie, Christopher Burton 1.40% Max 5.00% LU0755570602 18118457

Credit Suisse Fund (Lux) Commodity Index Plus (US$) S EUR S 17/04/2012 EUR 393.18m Nelson Louie, Christopher Burton 0.40% Max 3.00% LU0755571592 18118539

Credit Suisse Fund (Lux) Global Responsible Equities B B 15/01/2009 EUR 92.60m iMACS Funds Team 1.92% Max 5.00% LU0395641813 4751729

Credit Suisse Fund (Lux) Global Responsible Equities I I 13/11/2009 EUR 92.60m iMACS Funds Team 0.75% Max 3.00% LU0395641904 4751734

Credit Suisse Fund (Lux) Money Market EUR B B 16/08/2011 EUR 460.46m Romeo Sakac 0.30% Max 5.00% LU0650600199 13405155

Credit Suisse Fund (Lux) Money Market EUR I I 16/08/2011 EUR 460.46m Romeo Sakac 0.25% Max 5.00% LU0650600512 13405159

Credit Suisse Fund (Lux) Money Market Sfr B B 02/08/2010 CHF 841.59m Eric Suter 0.05% Max 5.00% LU0507202330 11273207

Credit Suisse Fund (Lux) Money Market USD B B 16/08/2011 USD 432.66m Romeo Sakac 0.15% Max 5.00% LU0650600785 13405161

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) B B 24/03/2006 EUR 410.02m Daniele Paglia 1.00% Max 5.00% LU0230911603 2288515

Credit Suisse Fund (Lux) Relative Return Engineered (Euro) I I 16/01/2007 EUR 410.02m Daniele Paglia 0.50% Max 3.00% LU0230912163 2288520

Credit Suisse Fund (Lux) Relative Return Engineered (Sfr) B B 08/06/2007 CHF 187.73m Daniele Paglia 1.00% Max 5.00% LU0230912676 2288523

Credit Suisse Fund (Lux) Relative Return Engineered (US$) B B 16/07/2009 USD 60.01m Daniele Paglia 1.00% Max 5.00% LU0230913302 2288527

Credit Suisse Fund (Lux) Total Return Engineered (Euro) B B 24/03/2006 EUR 9.66m Daniele Paglia 1.20% Max 5.00% LU0230914029 2288539

Credit Suisse Fund (Lux) Target Volatility (Euro) B B 30/06/2005 EUR 47.48m Giuseppe Patara 1.30% Max 5.00% LU0222452368 2187281

Credit Suisse Fund (Lux) Target Volatility (Euro) I I 22/08/2006 EUR 47.48m Giuseppe Patara 0.60% Max 3.00% LU0222452954 2187286

Info

rmat

ion

11


Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse FundCredit Suisse Fund (Lux) Target Volatility (Euro) R CHF R 17/04/2012 CHF 57.37m Giuseppe Patara 1.30% Max 5.00% LU0752725373 18074946

Credit Suisse NovaCredit Suisse Nova (Lux) Commodity Plus USD I I 31/07/2009 USD 301.07m Christopher Burton, Nelson Louie 0.40% Max 3.00% LU0436003544 10317133

Credit Suisse FundCredit Suisse Fund (Lux) Target Volatility (Euro) R USD R 17/04/2012 USD 61.01m Giuseppe Patara 1.30% Max 5.00% LU0752725456 18074957

Credit Suisse NovaCredit Suisse Nova (Lux) Enhanced Fixed Income (CHF) B B 29/02/2008 CHF 263.02m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339587650 3674694

Credit Suisse Nova (Lux) Enhanced Fixed Income (EUR) B B 29/02/2008 EUR 302.50m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339588039 3674705

Credit Suisse Nova (Lux) Enhanced Fixed Income (USD) B B 29/02/2008 USD 111.24m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339588385 3674714

Credit Suisse Nova (Lux) FoF Equity Emerging Markets B B 17/11/2008 USD 450.04m Andreas Müller 0.90% Max 2.00% LU0392033832 4638662

Credit Suisse Nova (Lux) FoF Equity Japan B B 12/11/2008 JPY 12,814.01m Patrick Spada 0.90% Max 2.00% LU0392034301 4638676

Credit Suisse Portfolio FundCredit Suisse Portfolio Fund (Lux) Balanced (Euro) B B 30/10/1998 EUR 297.28m Urs Hiller 1.50% Max 5.00% LU0091100973 951124

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) B B 14/05/1993 CHF 1,278.13m Urs Hiller 1.50% Max 5.00% LU0078040838 672328

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) I I 10/04/2012 CHF 1,278.13m Urs Hiller 0.60% Max 3.00% LU0108822734 1057438

Credit Suisse Portfolio Fund (Lux) Balanced (US$) B B 14/05/1993 USD 91.32m Urs Hiller 1.50% Max 5.00% LU0078041133 672327

Credit Suisse Portfolio Fund (Lux) Growth (Euro) B B 30/10/1998 EUR 80.56m Urs Hiller 1.70% Max 5.00% LU0091101195 951292

Credit Suisse Portfolio Fund (Lux) Growth (Sfr) B B 11/06/1993 CHF 264.90m Urs Hiller 1.70% Max 5.00% LU0078041992 672378

Credit Suisse Portfolio Fund (Lux) Growth (US$) B B 11/06/1993 USD 69.50m Urs Hiller 1.70% Max 5.00% LU0078042453 672380

Credit Suisse Portfolio Fund (Lux) Income (Euro) A A 30/10/1998 EUR 395.69m Urs Hiller 1.30% Max 5.00% LU0091100627 951289

Credit Suisse Portfolio Fund (Lux) Income (Euro) B B 30/10/1998 EUR 395.69m Urs Hiller 1.30% Max 5.00% LU0091100890 951290

Credit Suisse Portfolio Fund (Lux) Income (Sfr) A A 14/05/1993 CHF 1,538.32m Urs Hiller 1.30% Max 5.00% LU0078042610 672338

Credit Suisse Portfolio Fund (Lux) Income (Sfr) B B 14/05/1993 CHF 1,538.32m Urs Hiller 1.30% Max 5.00% LU0078042883 672339

Credit Suisse Portfolio Fund (Lux) Income (Sfr) I I 10/04/2012 CHF 1,538.32m Urs Hiller 0.60% Max 3.00% LU0108838490 1057449

Credit Suisse Portfolio Fund (Lux) Income (US$) A A 14/05/1993 USD 242.41m Urs Hiller 1.30% Max 5.00% LU0078046876 672336

Credit Suisse Portfolio Fund (Lux) Income (US$) B B 14/05/1993 USD 242.41m Urs Hiller 1.30% Max 5.00% LU0078046959 672337

Credit Suisse Portfolio Fund (Lux) Reddito (Euro) A A 22/04/1994 EUR 93.49m Francesco Spadaccia 1.20% Max 5.00% LU0078046108 672334

12

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse FundCredit Suisse Fund (Lux) Target Volatility (Euro) R CHF R 17/04/2012 CHF 57.37m Giuseppe Patara 1.30% Max 5.00% LU0752725373 18074946

Credit Suisse NovaCredit Suisse Nova (Lux) Commodity Plus USD I I 31/07/2009 USD 301.07m Christopher Burton, Nelson Louie 0.40% Max 3.00% LU0436003544 10317133

Credit Suisse FundCredit Suisse Fund (Lux) Target Volatility (Euro) R USD R 17/04/2012 USD 61.01m Giuseppe Patara 1.30% Max 5.00% LU0752725456 18074957

Credit Suisse NovaCredit Suisse Nova (Lux) Enhanced Fixed Income (CHF) B B 29/02/2008 CHF 263.02m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339587650 3674694

Credit Suisse Nova (Lux) Enhanced Fixed Income (EUR) B B 29/02/2008 EUR 302.50m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339588039 3674705

Credit Suisse Nova (Lux) Enhanced Fixed Income (USD) B B 29/02/2008 USD 111.24m Andreas Müller, Patrick Spada 1.00% Max 2.00% LU0339588385 3674714

Credit Suisse Nova (Lux) FoF Equity Emerging Markets B B 17/11/2008 USD 450.04m Andreas Müller 0.90% Max 2.00% LU0392033832 4638662

Credit Suisse Nova (Lux) FoF Equity Japan B B 12/11/2008 JPY 12,814.01m Patrick Spada 0.90% Max 2.00% LU0392034301 4638676

Credit Suisse Portfolio FundCredit Suisse Portfolio Fund (Lux) Balanced (Euro) B B 30/10/1998 EUR 297.28m Urs Hiller 1.50% Max 5.00% LU0091100973 951124

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) B B 14/05/1993 CHF 1,278.13m Urs Hiller 1.50% Max 5.00% LU0078040838 672328

Credit Suisse Portfolio Fund (Lux) Balanced (Sfr) I I 10/04/2012 CHF 1,278.13m Urs Hiller 0.60% Max 3.00% LU0108822734 1057438

Credit Suisse Portfolio Fund (Lux) Balanced (US$) B B 14/05/1993 USD 91.32m Urs Hiller 1.50% Max 5.00% LU0078041133 672327

Credit Suisse Portfolio Fund (Lux) Growth (Euro) B B 30/10/1998 EUR 80.56m Urs Hiller 1.70% Max 5.00% LU0091101195 951292

Credit Suisse Portfolio Fund (Lux) Growth (Sfr) B B 11/06/1993 CHF 264.90m Urs Hiller 1.70% Max 5.00% LU0078041992 672378

Credit Suisse Portfolio Fund (Lux) Growth (US$) B B 11/06/1993 USD 69.50m Urs Hiller 1.70% Max 5.00% LU0078042453 672380

Credit Suisse Portfolio Fund (Lux) Income (Euro) A A 30/10/1998 EUR 395.69m Urs Hiller 1.30% Max 5.00% LU0091100627 951289

Credit Suisse Portfolio Fund (Lux) Income (Euro) B B 30/10/1998 EUR 395.69m Urs Hiller 1.30% Max 5.00% LU0091100890 951290

Credit Suisse Portfolio Fund (Lux) Income (Sfr) A A 14/05/1993 CHF 1,538.32m Urs Hiller 1.30% Max 5.00% LU0078042610 672338

Credit Suisse Portfolio Fund (Lux) Income (Sfr) B B 14/05/1993 CHF 1,538.32m Urs Hiller 1.30% Max 5.00% LU0078042883 672339

Credit Suisse Portfolio Fund (Lux) Income (Sfr) I I 10/04/2012 CHF 1,538.32m Urs Hiller 0.60% Max 3.00% LU0108838490 1057449

Credit Suisse Portfolio Fund (Lux) Income (US$) A A 14/05/1993 USD 242.41m Urs Hiller 1.30% Max 5.00% LU0078046876 672336

Credit Suisse Portfolio Fund (Lux) Income (US$) B B 14/05/1993 USD 242.41m Urs Hiller 1.30% Max 5.00% LU0078046959 672337

Credit Suisse Portfolio Fund (Lux) Reddito (Euro) A A 22/04/1994 EUR 93.49m Francesco Spadaccia 1.20% Max 5.00% LU0078046108 672334

Info

rmat

ion

13


Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Portfolio FundCredit Suisse Portfolio Fund (Lux) Reddito (Euro) B B 22/04/1994 EUR 93.49m Francesco Spadaccia 1.20% Max 5.00% LU0078046520 672335

Credit Suisse Prime Select TrustCredit Suisse Prime Select Trust (Lux) Global Equities Long/Short B B 31/03/1999 USD 59.03m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0096382964 603200

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R CHF R 28/01/2008 CHF 56.37m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173091025 1651595

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R EUR R 28/08/2006 EUR 46.94m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173093401 1651607

Credit Suisse Prime Select Trust (Lux) Multi Strategy B 30/06/2004 USD 187.89m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173109256 1649824

Credit Suisse Prime Select Trust (Lux) Multi Strategy I I 31/12/2004 USD 187.89m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.00% Max 3.00% LU0173109413 1651701

Credit Suisse Prime Select Trust (Lux) Multi Strategy R CHF R 26/08/2004 CHF 179.41m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173092007 1651692

Credit Suisse Prime Select Trust (Lux) Multi Strategy R EUR R 26/08/2004 EUR 149.41m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173095018 1651696

Credit Suisse Prime Select Trust (Lux) Multi Strategy R GBP R 26/03/2009 GBP 118.32m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173101600 1651698

Credit Suisse SICAV OneCredit Suisse SICAV One (Lux) CommodityAllocation B B 14/04/2010 USD 1,089.49m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0496465690 11145804

Credit Suisse SICAV One (Lux) CommodityAllocation R CHF R 14/04/2010 CHF 1,024.51m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0499371648 11183148

Credit Suisse SICAV One (Lux) CommodityAllocation R EUR R 14/04/2010 EUR 847.80m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0499368180 11183143

Credit Suisse SICAV One (Lux) Equity Eurozone B B 27/06/2011 EUR 489.75m Julio Alberto Giró 1.92% Max 5.00% LU0496466151 11145861

Credit Suisse SICAV One (Lux) Equity Eurozone I I 27/06/2011 EUR 489.75m Julio Alberto Giró 0.70% Max 3.00% LU0496466318 11145872

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property B B 30/05/2008 USD 53.31m Werner Richli 1.92% Max 5.00% LU0339603879 3675133

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property I I 06/10/2010 USD 53.31m Werner Richli 0.90% Max 3.00% LU0339604091 3675139

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R CHF R 30/05/2008 CHF 50.13m Werner Richli 1.92% Max 5.00% LU0339604174 3675144

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R EUR R 30/05/2008 EUR 41.48m Werner Richli 1.92% Max 5.00% LU0339604257 3675145

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets B B 20/01/2010 USD 430.33m Global Equity Investment Group, Powered by HOLT 1.92% Max 5.00% LU0456267680 10627705

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets I I 01/02/2010 USD 430.33m Global Equity Investment Group, Powered by HOLT 0.90% Max 3.00% LU0456267847 10627709

Credit Suisse SICAV One (Lux) Equity Japan Value B B 30/03/2011 JPY 15,490.28m Gregor Trachsel 1.92% Max 5.00% LU0496466821 11145891

Credit Suisse SICAV One (Lux) European Equity Dividend Plus A A 09/09/2009 EUR 278.18m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0439729285 10348225

Credit Suisse SICAV One (Lux) European Equity Dividend Plus B B 09/09/2009 EUR 278.18m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0439729368 10348228

Credit Suisse SICAV One (Lux) European Equity Dividend Plus I I 12/10/2009 EUR 278.18m Felix Maag, Nicola Nolè 0.70% Max 3.00% LU0439729798 10348388

Credit Suisse SICAV One (Lux) European Equity Dividend Plus R CHF R 17/03/2011 CHF 336.16m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0603361998 12634678

14

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Portfolio FundCredit Suisse Portfolio Fund (Lux) Reddito (Euro) B B 22/04/1994 EUR 93.49m Francesco Spadaccia 1.20% Max 5.00% LU0078046520 672335

Credit Suisse Prime Select TrustCredit Suisse Prime Select Trust (Lux) Global Equities Long/Short B B 31/03/1999 USD 59.03m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0096382964 603200

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R CHF R 28/01/2008 CHF 56.37m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173091025 1651595

Credit Suisse Prime Select Trust (Lux) Global Equities Long/Short R EUR R 28/08/2006 EUR 46.94m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173093401 1651607

Credit Suisse Prime Select Trust (Lux) Multi Strategy B 30/06/2004 USD 187.89m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173109256 1649824

Credit Suisse Prime Select Trust (Lux) Multi Strategy I I 31/12/2004 USD 187.89m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.00% Max 3.00% LU0173109413 1651701

Credit Suisse Prime Select Trust (Lux) Multi Strategy R CHF R 26/08/2004 CHF 179.41m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173092007 1651692

Credit Suisse Prime Select Trust (Lux) Multi Strategy R EUR R 26/08/2004 EUR 149.41m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173095018 1651696

Credit Suisse Prime Select Trust (Lux) Multi Strategy R GBP R 26/03/2009 GBP 118.32m Wiedemeijer Oliver, Hechinger Bernard, Keller Ulrich 1.75% Max 6.25% LU0173101600 1651698

Credit Suisse SICAV OneCredit Suisse SICAV One (Lux) CommodityAllocation B B 14/04/2010 USD 1,089.49m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0496465690 11145804

Credit Suisse SICAV One (Lux) CommodityAllocation R CHF R 14/04/2010 CHF 1,024.51m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0499371648 11183148

Credit Suisse SICAV One (Lux) CommodityAllocation R EUR R 14/04/2010 EUR 847.80m Dietmar Peetz, Daniel Schmitt 1.92% Max 5.00% LU0499368180 11183143

Credit Suisse SICAV One (Lux) Equity Eurozone B B 27/06/2011 EUR 489.75m Julio Alberto Giró 1.92% Max 5.00% LU0496466151 11145861

Credit Suisse SICAV One (Lux) Equity Eurozone I I 27/06/2011 EUR 489.75m Julio Alberto Giró 0.70% Max 3.00% LU0496466318 11145872

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property B B 30/05/2008 USD 53.31m Werner Richli 1.92% Max 5.00% LU0339603879 3675133

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property I I 06/10/2010 USD 53.31m Werner Richli 0.90% Max 3.00% LU0339604091 3675139

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R CHF R 30/05/2008 CHF 50.13m Werner Richli 1.92% Max 5.00% LU0339604174 3675144

Credit Suisse SICAV One (Lux) Equity Global Emerging Market Property R EUR R 30/05/2008 EUR 41.48m Werner Richli 1.92% Max 5.00% LU0339604257 3675145

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets B B 20/01/2010 USD 430.33m Global Equity Investment Group, Powered by HOLT 1.92% Max 5.00% LU0456267680 10627705

Credit Suisse SICAV One (Lux) Equity Global Emerging Markets I I 01/02/2010 USD 430.33m Global Equity Investment Group, Powered by HOLT 0.90% Max 3.00% LU0456267847 10627709

Credit Suisse SICAV One (Lux) Equity Japan Value B B 30/03/2011 JPY 15,490.28m Gregor Trachsel 1.92% Max 5.00% LU0496466821 11145891

Credit Suisse SICAV One (Lux) European Equity Dividend Plus A A 09/09/2009 EUR 278.18m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0439729285 10348225

Credit Suisse SICAV One (Lux) European Equity Dividend Plus B B 09/09/2009 EUR 278.18m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0439729368 10348228

Credit Suisse SICAV One (Lux) European Equity Dividend Plus I I 12/10/2009 EUR 278.18m Felix Maag, Nicola Nolè 0.70% Max 3.00% LU0439729798 10348388

Credit Suisse SICAV One (Lux) European Equity Dividend Plus R CHF R 17/03/2011 CHF 336.16m Felix Maag, Nicola Nolè 1.60% Max 5.00% LU0603361998 12634678

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Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse SICAV OneCredit Suisse SICAV One (Lux) Global Convertibles B B 19/10/2009 USD 183.95m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0426279682 10169270

Credit Suisse SICAV One (Lux) Global Convertibles R CHF R 13/11/2009 CHF 172.98m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0457025020 10639345

Credit Suisse SICAV One (Lux) Global Convertibles R EUR R 27/10/2009 EUR 143.14m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0457025293 10639347

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus A A 15/04/2010 USD 63.69m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0439730374 10348395

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus B B 15/04/2010 USD 63.69m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0439730457 10348396

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus R CHF R 15/04/2011 CHF 59.89m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0612865351 12784788

Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr) B B 29/09/2009 CHF 11.61m Team MACS 1.15% Max 5.00% LU0439731851 10348440

Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Sfr) B B 29/09/2009 CHF 6.09m Team MACS 1.30% Max 5.00% LU0439733121 10348472

Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr) B B 29/09/2009 CHF 14.79m Team MACS 0.95% Max 5.00% LU0439734368 10348562

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short B B 26/07/2010 EUR 66.73m Felix Meier 2.00% Max 5.00% LU0525285697 11514102

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R CHF R 26/07/2010 CHF 80.64m Felix Meier 2.00% Max 5.00% LU0526492425 11514130

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R USD R 26/07/2010 USD 85.76m Felix Meier 2.00% Max 5.00% LU0526495444 11514152

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short I I 26/07/2010 EUR 66.73m Felix Meier 1.80% Max 3.00% LU0525285937 11514128

Credit Suisse Fund ICredit Suisse Fund I (Lux) Bond Global Corporates B B 30/09/2010 EUR 128.69m Michael Schmid 1.00% Max 5.00% LU0494503898 11099629

Credit Suisse Fund I (Lux) Bond Global Corporates R CHF R 30/09/2010 CHF 155.51m Michael Schmid 1.00% Max 5.00% LU0494504433 11099651

Credit Suisse Fund I (Lux) Bond Global Corporates R USD R 30/09/2010 USD 165.38m Michael Schmid 1.00% Max 5.00% LU0494504276 11099635

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR B B 29/10/2010 EUR 36.91m Michael Schmid 0.60% Max 5.00% LU0545082637 11772516

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR I I 29/10/2010 EUR 36.91m Michael Schmid 0.25% Max 3.00% LU0545082710 11772518

Credit Suisse Fund I (Lux) Floating Rate Strategy USD B B 29/10/2010 USD 33.15m Michael Schmid 0.40% Max 5.00% LU0545083361 11772571

Credit Suisse Fund I (Lux) Floating Rate Strategy USD I I 29/10/2010 USD 33.15m Michael Schmid 0.25% Max 3.00% LU0545083445 11772573

Credit Suisse Fund I (Lux) Bond Emerging Markets A A 30/06/2005 USD 534.81m Gonzalo Borja 1.20% Max 5.00% LU0660296467 13506687

Credit Suisse Fund I (Lux) Bond Emerging Markets B B 31/08/2011 USD 534.81m Gonzalo Borja 1.20% Max 5.00% LU0660296541 13506689

Credit Suisse Fund I (Lux) Bond Emerging Markets R CHF R 31/08/2011 CHF 502.91m Gonzalo Borja 1.20% Max 5.00% LU0660295907 13506692

Credit Suisse Fund I (Lux) Bond Emerging Markets R EUR R 31/08/2011 EUR 416.17m Gonzalo Borja 1.20% Max 5.00% LU0660296111 13506698

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade B B 28/02/2011 USD 215.97m Andreas Fischer 1.00% Max 5.00% LU0592661523 12471998

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade I I 28/02/2011 USD 215.97m Andreas Fischer 0.60% Max 3.00% LU0592661879 12472003

16

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse SICAV OneCredit Suisse SICAV One (Lux) Global Convertibles B B 19/10/2009 USD 183.95m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0426279682 10169270

Credit Suisse SICAV One (Lux) Global Convertibles R CHF R 13/11/2009 CHF 172.98m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0457025020 10639345

Credit Suisse SICAV One (Lux) Global Convertibles R EUR R 27/10/2009 EUR 143.14m Zurich Convertible Bonds Team 1.20% Max 5.00% LU0457025293 10639347

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus A A 15/04/2010 USD 63.69m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0439730374 10348395

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus B B 15/04/2010 USD 63.69m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0439730457 10348396

Credit Suisse SICAV One (Lux) Global Equity Dividend Plus R CHF R 15/04/2011 CHF 59.89m Felix Maag, Aude Scheuer 1.60% Max 5.00% LU0612865351 12784788

Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr) B B 29/09/2009 CHF 11.61m Team MACS 1.15% Max 5.00% LU0439731851 10348440

Credit Suisse SICAV One (Lux) IndexSelection Capital Gains Oriented (Sfr) B B 29/09/2009 CHF 6.09m Team MACS 1.30% Max 5.00% LU0439733121 10348472

Credit Suisse SICAV One (Lux) IndexSelection Income Oriented (Sfr) B B 29/09/2009 CHF 14.79m Team MACS 0.95% Max 5.00% LU0439734368 10348562

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short B B 26/07/2010 EUR 66.73m Felix Meier 2.00% Max 5.00% LU0525285697 11514102

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R CHF R 26/07/2010 CHF 80.64m Felix Meier 2.00% Max 5.00% LU0526492425 11514130

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short R USD R 26/07/2010 USD 85.76m Felix Meier 2.00% Max 5.00% LU0526495444 11514152

Credit Suisse SICAV One (Lux) Small and Mid Cap Alpha Long/Short I I 26/07/2010 EUR 66.73m Felix Meier 1.80% Max 3.00% LU0525285937 11514128

Credit Suisse Fund ICredit Suisse Fund I (Lux) Bond Global Corporates B B 30/09/2010 EUR 128.69m Michael Schmid 1.00% Max 5.00% LU0494503898 11099629

Credit Suisse Fund I (Lux) Bond Global Corporates R CHF R 30/09/2010 CHF 155.51m Michael Schmid 1.00% Max 5.00% LU0494504433 11099651

Credit Suisse Fund I (Lux) Bond Global Corporates R USD R 30/09/2010 USD 165.38m Michael Schmid 1.00% Max 5.00% LU0494504276 11099635

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR B B 29/10/2010 EUR 36.91m Michael Schmid 0.60% Max 5.00% LU0545082637 11772516

Credit Suisse Fund I (Lux) Floating Rate Strategy EUR I I 29/10/2010 EUR 36.91m Michael Schmid 0.25% Max 3.00% LU0545082710 11772518

Credit Suisse Fund I (Lux) Floating Rate Strategy USD B B 29/10/2010 USD 33.15m Michael Schmid 0.40% Max 5.00% LU0545083361 11772571

Credit Suisse Fund I (Lux) Floating Rate Strategy USD I I 29/10/2010 USD 33.15m Michael Schmid 0.25% Max 3.00% LU0545083445 11772573

Credit Suisse Fund I (Lux) Bond Emerging Markets A A 30/06/2005 USD 534.81m Gonzalo Borja 1.20% Max 5.00% LU0660296467 13506687

Credit Suisse Fund I (Lux) Bond Emerging Markets B B 31/08/2011 USD 534.81m Gonzalo Borja 1.20% Max 5.00% LU0660296541 13506689

Credit Suisse Fund I (Lux) Bond Emerging Markets R CHF R 31/08/2011 CHF 502.91m Gonzalo Borja 1.20% Max 5.00% LU0660295907 13506692

Credit Suisse Fund I (Lux) Bond Emerging Markets R EUR R 31/08/2011 EUR 416.17m Gonzalo Borja 1.20% Max 5.00% LU0660296111 13506698

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade B B 28/02/2011 USD 215.97m Andreas Fischer 1.00% Max 5.00% LU0592661523 12471998

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade I I 28/02/2011 USD 215.97m Andreas Fischer 0.60% Max 3.00% LU0592661879 12472003

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Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Fund ICredit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R CHF R 28/02/2011 CHF 203.08m Andreas Fischer 1.00% Max 5.00% LU0592662331 12472012

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R EUR R 28/02/2011 EUR 168.06m Andreas Fischer 1.00% Max 5.00% LU0592662091 12472005

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B B 30/10/2006 USD 25.53m Andreas Fischer 1.20% Max 5.00% LU0660292557 13508833

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B EUR B 30/10/2006 EUR 19.87m Andreas Fischer 1.20% Max 5.00% LU0667455033 13599786

Credit Suisse Fund I (Lux) Bond European High Yield A A 04/05/2012 EUR 35.03m Michael Schmid 1.20% Max 5.00% LU0660295576 13506722

Credit Suisse Fund I (Lux) Bond European High Yield B B 04/05/2012 EUR 35.03m Michael Schmid 1.20% Max 5.00% LU0660295659 13506723

Credit Suisse SolutionsCredit Suisse Solutions (Lux) Prima Multi-Strategy B EUR B 21/07/2010 EUR 438.09m Credit Suisse AG 1.50% Max 5.00% LU0522193027 11480397

Credit Suisse Solutions (Lux) Prima Multi-Strategy R CHF R 21/07/2010 CHF 529.61m Credit Suisse AG 1.50% Max 5.00% LU0522194009 11480412

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R EUR R 19/03/2008 EUR 150.89m Brian Peterson 1.00% Max 3.00% LU0337322878 3670380

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index B B 19/03/2008 USD 194.03m Brian Peterson 1.00% Max 3.00% LU0337322282 3670366

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index I I 15/03/2010 USD 194.03m Brian Peterson 0.33% Max 3.00% LU0337322449 3670377

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R CHF R 19/03/2008 CHF 182.42m Brian Peterson 1.00% Max 3.00% LU0337322522 3670378

Credit Suisse Solutions (Lux) Megatrends B B 30/09/2010 USD 179.30m iMACS Funds Team 1.92% Max 3.00% LU0522191245 11480304

Credit Suisse Solutions (Lux) Megatrends I I 16/06/2011 USD 179.30m iMACS Funds Team 0.70% Max 3.00% LU0522191757 11480355

Credit Suisse Solutions (Lux) Megatrends R CHF R 30/09/2010 CHF 168.60m iMACS Funds Team 1.92% Max 3.00% LU0522192300 11480369

Credit Suisse Solutions (Lux) Megatrends R EUR R 30/09/2010 EUR 139.52m iMACS Funds Team 1.92% Max 3.00% LU0522192136 11480366

Credit Suisse Solutions (Lux) Megatrends R GBP R 14/02/2011 GBP 111.10m iMACS Funds Team 1.92% Max 3.00% LU0554857044 11949965

Credit Suisse Solutions (Lux) Prima Multi-Strategy I EUR I 21/07/2010 EUR 438.09m Credit Suisse AG 1.00% Max 3.00% LU0522193613 11480406

Credit Suisse Solutions (Lux) Prima Multi-Strategy R USD R 21/07/2010 USD 563.34m Credit Suisse AG 1.50% Max 5.00% LU0522193704 11480410

Credit Suisse Solutions (Lux) Prima Multi-Strategy R GBP R 18/05/2011 GBP 348.75m Credit Suisse AG 1.50% Max 5.00% LU0627515090 12983829

Credit Suisse SICAVCredit Suisse SICAV (Lux) Equity Russia B B 20/08/2009 USD 156.66m Anna Väänänen 2.00% Max 5.00% LU0348403774 3786520

Credit Suisse SICAV (Lux) Equity Russia B RUB B 30/09/2009 RUB 4,883.09m Anna Väänänen 2.00% Max 5.00% LU0348404236 3786540

Credit Suisse SICAV (Lux) Equity Russia R EUR R 31/08/2009 EUR 121.91m Anna Väänänen 2.00% Max 5.00% LU0348404079 3786535

Credit Suisse SICAV (Lux) Equity Russia I I 20/08/2009 USD 156.66m Anna Väänänen 1.10% Max 3.00% LU0348403857 3786523

Credit Suisse SICAV (Lux) Equity Asia Consumer B B 31/10/2008 USD 37.53m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383587234 4491453

18

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse Fund ICredit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R CHF R 28/02/2011 CHF 203.08m Andreas Fischer 1.00% Max 5.00% LU0592662331 12472012

Credit Suisse Fund I (Lux) Bond Emerging Markets Investment Grade R EUR R 28/02/2011 EUR 168.06m Andreas Fischer 1.00% Max 5.00% LU0592662091 12472005

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B B 30/10/2006 USD 25.53m Andreas Fischer 1.20% Max 5.00% LU0660292557 13508833

Credit Suisse Fund I (Lux) Bond Emerging Markets Local Currencies B EUR B 30/10/2006 EUR 19.87m Andreas Fischer 1.20% Max 5.00% LU0667455033 13599786

Credit Suisse Fund I (Lux) Bond European High Yield A A 04/05/2012 EUR 35.03m Michael Schmid 1.20% Max 5.00% LU0660295576 13506722

Credit Suisse Fund I (Lux) Bond European High Yield B B 04/05/2012 EUR 35.03m Michael Schmid 1.20% Max 5.00% LU0660295659 13506723

Credit Suisse SolutionsCredit Suisse Solutions (Lux) Prima Multi-Strategy B EUR B 21/07/2010 EUR 438.09m Credit Suisse AG 1.50% Max 5.00% LU0522193027 11480397

Credit Suisse Solutions (Lux) Prima Multi-Strategy R CHF R 21/07/2010 CHF 529.61m Credit Suisse AG 1.50% Max 5.00% LU0522194009 11480412

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R EUR R 19/03/2008 EUR 150.89m Brian Peterson 1.00% Max 3.00% LU0337322878 3670380

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index B B 19/03/2008 USD 194.03m Brian Peterson 1.00% Max 3.00% LU0337322282 3670366

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index I I 15/03/2010 USD 194.03m Brian Peterson 0.33% Max 3.00% LU0337322449 3670377

Credit Suisse Solutions (Lux) Dow Jones Credit Suisse AllHedge Index R CHF R 19/03/2008 CHF 182.42m Brian Peterson 1.00% Max 3.00% LU0337322522 3670378

Credit Suisse Solutions (Lux) Megatrends B B 30/09/2010 USD 179.30m iMACS Funds Team 1.92% Max 3.00% LU0522191245 11480304

Credit Suisse Solutions (Lux) Megatrends I I 16/06/2011 USD 179.30m iMACS Funds Team 0.70% Max 3.00% LU0522191757 11480355

Credit Suisse Solutions (Lux) Megatrends R CHF R 30/09/2010 CHF 168.60m iMACS Funds Team 1.92% Max 3.00% LU0522192300 11480369

Credit Suisse Solutions (Lux) Megatrends R EUR R 30/09/2010 EUR 139.52m iMACS Funds Team 1.92% Max 3.00% LU0522192136 11480366

Credit Suisse Solutions (Lux) Megatrends R GBP R 14/02/2011 GBP 111.10m iMACS Funds Team 1.92% Max 3.00% LU0554857044 11949965

Credit Suisse Solutions (Lux) Prima Multi-Strategy I EUR I 21/07/2010 EUR 438.09m Credit Suisse AG 1.00% Max 3.00% LU0522193613 11480406

Credit Suisse Solutions (Lux) Prima Multi-Strategy R USD R 21/07/2010 USD 563.34m Credit Suisse AG 1.50% Max 5.00% LU0522193704 11480410

Credit Suisse Solutions (Lux) Prima Multi-Strategy R GBP R 18/05/2011 GBP 348.75m Credit Suisse AG 1.50% Max 5.00% LU0627515090 12983829

Credit Suisse SICAVCredit Suisse SICAV (Lux) Equity Russia B B 20/08/2009 USD 156.66m Anna Väänänen 2.00% Max 5.00% LU0348403774 3786520

Credit Suisse SICAV (Lux) Equity Russia B RUB B 30/09/2009 RUB 4,883.09m Anna Väänänen 2.00% Max 5.00% LU0348404236 3786540

Credit Suisse SICAV (Lux) Equity Russia R EUR R 31/08/2009 EUR 121.91m Anna Väänänen 2.00% Max 5.00% LU0348404079 3786535

Credit Suisse SICAV (Lux) Equity Russia I I 20/08/2009 USD 156.66m Anna Väänänen 1.10% Max 3.00% LU0348403857 3786523

Credit Suisse SICAV (Lux) Equity Asia Consumer B B 31/10/2008 USD 37.53m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383587234 4491453

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Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse SICAVCredit Suisse SICAV (Lux) Equity Asia Consumer R EUR R 31/10/2008 EUR 29.20m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383586699 4491436

Credit Suisse SICAV (Lux) Equity Asia Consumer R CHF R 31/10/2008 CHF 35.29m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383588042 4491484

Credit Suisse SICAV (Lux) Equity Luxury Goods B USD B 02/09/2010 USD 147.45m Juan Manuel Mendoza 1.92% Max 5.00% LU0348402297 3786474

Credit Suisse SICAV (Lux) Equity Luxury Goods B EUR B 20/08/2009 EUR 114.74m Juan Manuel Mendoza 1.92% Max 5.00% LU0348402537 3786484

Credit Suisse SICAV (Lux) Asian Equity Dividend Plus B B 19/08/2009 USD 61.80m Michael Lee Zemp 1.92% Max 5.00% LU0434327028 10258773

Credit Suisse SICAV (Lux) Equity Biotechnology B B 05/10/2001 USD 153.16m Irene Beatrice Puettner 1.92% Max 5.00% LU0130190969 1258035

Credit Suisse SICAV (Lux) Equity Biotechnology R EUR R 28/02/2006 EUR 119.19m Irene Beatrice Puettner 1.92% Max 5.00% LU0240068329 2388468

Credit Suisse SICAV (Lux) Equity Biotechnology I I 05/10/2001 USD 153.16m Irene Beatrice Puettner 0.90% Max 3.00% LU0130191181 1258038


The dealing cut-off time are specified in the sales prospectus of the respective fund. Further information can be found under section "Important Information" and "Contacts".

20

Fund nameUnit

classInception

dateFund

currencyTotal

net assetsFund

managerManagement



number

Credit Suisse SICAVCredit Suisse SICAV (Lux) Equity Asia Consumer R EUR R 31/10/2008 EUR 29.20m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383586699 4491436

Credit Suisse SICAV (Lux) Equity Asia Consumer R CHF R 31/10/2008 CHF 35.29m Isis Ma, Juan Manuel Mendoza 1.92% Max 5.00% LU0383588042 4491484

Credit Suisse SICAV (Lux) Equity Luxury Goods B USD B 02/09/2010 USD 147.45m Juan Manuel Mendoza 1.92% Max 5.00% LU0348402297 3786474

Credit Suisse SICAV (Lux) Equity Luxury Goods B EUR B 20/08/2009 EUR 114.74m Juan Manuel Mendoza 1.92% Max 5.00% LU0348402537 3786484

Credit Suisse SICAV (Lux) Asian Equity Dividend Plus B B 19/08/2009 USD 61.80m Michael Lee Zemp 1.92% Max 5.00% LU0434327028 10258773

Credit Suisse SICAV (Lux) Equity Biotechnology B B 05/10/2001 USD 153.16m Irene Beatrice Puettner 1.92% Max 5.00% LU0130190969 1258035

Credit Suisse SICAV (Lux) Equity Biotechnology R EUR R 28/02/2006 EUR 119.19m Irene Beatrice Puettner 1.92% Max 5.00% LU0240068329 2388468

Credit Suisse SICAV (Lux) Equity Biotechnology I I 05/10/2001 USD 153.16m Irene Beatrice Puettner 0.90% Max 3.00% LU0130191181 1258038

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Fund 289

Fund manager Thomas FlanneryFund manager since 30/04/2010Location New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 480.12Inception date 13/10/2000Management fee in % p.a. 1.20Total expense ratio (ex ante) in % 1.42Benchmark (BM)

ML US High Yield Master II Constr. (RI) (04/06)Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)

ISIN number LU0116737759

Redemptions DailyEU taxation In scope - tax

September 28, 2012Luxembourg

Credit Suisse Bond Fund (Lux) High Yield US$Class B

Net performance in USD (rebased to 100) and yearly performance 1)

2007 2008 2009 2010 2011 201260

80

100

120

140

160

180

-40%

-20%

0%

20%

40%

60%

80%

0.5

-29.5

52.9

13.75.1 9.3

2.6

-26.1

58.1

15.14.4

11.9

CS BF (Lux) High Yield US$ B Yearly or year-to-date performance respectively (Fund)ML US High Yield Master II Constr. (RI) (04/06)

Yearly or year-to-date performance respectively(Benchmark)

Net performance in USD 1)

1 month 3 months YTD 1 year 3 years 5 yearsFund 1.04 3.44 9.30 14.31 38.76 37.99Benchmark 1.38 4.59 11.94 18.86 42.54 55.59

Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Currencies in %before hedging after hedging

USD 100.00 100.00

Credit Ratings in %

BBB- 0.58BB+ 0.40BB 5.53BB- 11.01B+ 20.51B 14.82B- 17.63CCC (Bucket) 20.55Cash/CashEquivalents 7.28Not rated 1.69

Top 10 holdings in %Position Coupon

%Maturity as % of

assetsUCI International 8.625 15/02/19 1.02McmoranExploration

11.875 15/11/14 0.99

Quadra FNX Mining 7.750 15/06/19 0.96Edgen Murray 12.250 15/01/15 0.91Headwaters 7.625 01/04/19 0.91Telesat Canada 6.000 15/05/17 0.88WMG Acquisition 9.500 15/06/16 0.86Hughes SatelliteSystems

6.500 15/06/19 0.85

Taminco Global 9.750 31/03/20 0.85Coleman Cable 9.000 15/02/18 0.81Total 9.04

Number of holdings

Duration and YieldFund

Gross portfolio yield in % 6.85Average remaining term to maturity in years 5.81Modified duration in years 2.97

Asset Allocation in %Industrial Bonds 87.44Financial Bonds 3.40Utilities 1.04Derivatives 0.84Cash/Cash Equivalents 7.28Total 100.00

Investment policyThe aim of the fund is to achieve a high levelof income, although considerable fluctuations inprice cannot be ruled out. The fund invests atleast two-thirds of its assets in US denominatednon-investment grade bonds issued by UScompanies. The Fund may only invest insecurities denominated in USD.

Fund facts

Unit class currency USD

Bloomberg ticker CSBFHYU LXNet Asset Value 229.48

2) «Swinging single pricing» (SSP) is a state-of-the-art methodused to calculate the net asset value of investment funds. SSPenables a fund to have the cash needed to settle the dailytransaction costs relating to subscriptions and redemptions byinvestors buying into and selling out of the fund. Existinginvestors no longer have to indirectly cover these transactioncosts as SSP integrates the charges for transaction costs intothe net asset value calculation, meaning investors buying into/selling out of the fund bear these costs.

Fund Statistics3 years 5 years

Annualised volatility in % 5.91 13.75Information ratio -0.47 -1.07Tracking Error (Ex post) 1.89 2.25Maximum draw down in % 3) -5.09 -34.943) Maximum drawdown is the most negative cumulative returnover a given time period.

Source: Lipper, a Thomson Reuters company

Average = B-

22

1) Historical performance indications and financial market scenarios are no guarantee for current or future performance. Performance indications do not consider commissions levied atsubscription and/or redemption.

The disclaimer mentioned at the end of this document also applies to this page.


Credit Suisse Bond Fund (Lux) High Yield US$Class B

Review previous quarter 4)

The Bank of America Merrill Lynch High YieldMaster II Constrained Index returned 4.61% forthe quarter amid global capital market rallies.Respective monthly Index returns were 1.92%,1.21% and 1.42% for July, August, andSeptember. The average high yield spread toworst tightened 69 bps during the period,finishing the third quarter at 586 basis points.Yield-to-Worst for the asset class finished thequarter at 6.56%.

High-yield defaults increased slightlyquarter-to-quarter, with JP Morgan’spar-weighted high yield bond default rate fell to

1.8% in September, from 2.2% at the end ofthe second quarter. The default rate remainswell below its historical average of 4.2%. TheUS high yield distress ratio, which measures theproportion of bonds trading at spreads of morethan 1,000 basis points over US Treasuries,finished at 11.0% of the market in Septembercompared to 13.3% at the end of June.

High-yield mutual fund flows turned positive inthe third quarter, with inflows totaling $12.8billion. This brought the year-to-date inflow to+$34.3 billion, a record for the asset classaccording to Lipper FMI. The 2012 year-to-date

inflow is now over double the 2011 total inflow of$15.6 billion, indicating a strong increase in retaildemand as investors search for yield.

New high-yield issuance in the third quartertotaled $105.7 billion compared to secondquarter volume of $54.7 billion. The increasedactivity in primary markets was largely driven byrobust demand for the asset class and positivesentiment across global capital markets.Year-to-date volume now totals $263 billion,already surpassing last year’s total issuance of$246 billion, according to JP Morgan.

Outlook for the market 4)

Portfolio exposures continue to emphasizeB-rated bonds with the good risk-return profiles.We have avoided the most interest rate sensitivesecurities and have maintained exposure toshorter duration bonds. In addition, we have anunderweight to the most levered and aggressiveCC-rated components of the Index, as theytypically exhibit the most volatility in a heightenedmacro risk environment. Sector-wise, we have

overweights to the media, technology and energysectors and remain cautious with respect toconsumer-driven and cyclical industries.

Fundamentals have remained strong in 2012 ashigh yield companies have focused ondeleveraging and extending maturities since early2009, which have supported below-averagedefault expectations for 2012 and 2013.

Investors have demonstrated continuedconfidence in credit markets with recordyear-to-date inflows into retail high yield funds.Against this backdrop, though we see continuedopportunities within the high yield asset class, weremain cautious given current valuations and thepotential for renewed headline risk.

Portfolio managementThomas J. Flannery is a Managing Director of Credit Suisse and Portfolio Manager for Performing Credit Strategies with primaryresponsibility for managing the high yield bond portfolios. Mr. Flannery is also a member of the Credit Investments Group CreditCommittee. Prior to Credit Suisse, Mr. Flannery served as an Associate at First Dominion Capital, LLC, which he joined in 1998. Mr.Flannery began his career with Houlihan Lokey Howard & Zukin, Inc., where he served as an Analyst in the Financial Restructuring Group,working on a variety of debtor and creditor representation assignments. Mr. Flannery graduated with a B.S. in Finance from GeorgetownUniversity.

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4) If not expressly indicated otherwise, all quantitative data contained in this comment is based on Lipper, Bloomberg or Datastream.

23

Fund 289


ML US High Yield Master II Constr. (RI) (04/06)Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)


Min. Init. Investm. Amount (in mill.) 3Redemptions DailyEU taxation In scope - tax


Credit Suisse Bond Fund (Lux) High Yield US$Class I


2007 2008 2009 2010 2011 201260

80

100

120

140

160

180

-40%

-20%

0%

20%

40%

60%

80%

1.0

-29.1

53.7

14.35.6 9.7

2.6

-26.1

58.1

15.14.4

11.9

CS BF (Lux) High Yield US$ I Yearly or year-to-date performance respectively (Fund)ML US High Yield Master II Constr. (RI) (04/06)




Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15


USD 100.00 100.00

Credit Ratings in %



%Maturity as % of


11.875 15/11/14 0.99


6.500 15/06/19 0.85


Number of holdings





Fund facts


Bloomberg ticker CSBFHYI LXNet Asset Value 2,221.96





Average = B-

24




Credit Suisse Bond Fund (Lux) High Yield US$Class I














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25


ML US High Yield Master II Co. (RI) (Hgd into EUR)Swinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)



Fund 289


Credit Suisse Bond Fund (Lux) High Yield US$Class R EUR

Net performance in EUR (rebased to 100) 1)

According to MiFID standards (Markets in Financial Instruments Directive) no performance figuresshall be made available to private investors if the product was launched less than twelve months ago.

Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Currencies in %USD 100.00In addition to the currency table shown above, for this class,hedging strategies, by means of forward foreign exchangetransactions, are implemented to protect the class currencyagainst currency fluctuations of the fund's reference currency.This may substantially protect investors against a decrease in thevalue of the fund's reference currency relative to the hedgedclass currency, but it may also preclude investors from benefitingfrom an increase in the value of the fund's currency.

Credit Ratings in %



%Maturity as % of


11.875 15/11/14 0.99


6.500 15/06/19 0.85






Fund facts

Unit class currency EUR

Bloomberg ticker CSBFHYR LXNet Asset Value 109.48


Number of holdings

Fund Statistics1 year 3 years

Annualized volatility in % - -Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 3) - -3) Maximum drawdown is the most negative cumulative returnover a given time period.

Average = B-

26




Credit Suisse Bond Fund (Lux) High Yield US$Class R EUR














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27

Fund 76

Fund manager Alexandre BouchardyFund manager since 01/05/2007Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 356.91Inception date 25/09/2003Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.17Benchmark (BM)

Barclays Euro Govt. Infl-Linked 1-10Y (RI) (09/07)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)


Last distribution 15/11/2011Distribution value 1.40Redemptions DailyEU taxation In scope - tax


Credit Suisse Bond Fund (Lux) Inflation Linked (Euro)Class A & B

Net performance in EUR (rebased to 100) and yearly performance 1)

2007 2008 2009 2010 2011 201295

100105110115120125130135

-5%0%5%

10%15%20%25%30%35%

2.2 1.7

6.9

0.3 0.94.74.8 5.3

7.0

2.1 1.3

7.0

CS BF (Lux) Inflation Linked (Euro) B Yearly or year-to-date performance respectively (Fund)Barclays Euro Govt. Infl-Linked 1-10Y (RI) (09/07)


Net performance in EUR 1)


Maturities in years

0%

5%

10%

15%

20%

25%

0-1 1-3 3-5 5-7 7-10 10-15 >15


EUR 100.00 100.00

Credit Ratings in %

AAA 50.23AA+ 14.49AA 3.99AA- 6.14A+ 6.57A 3.66A- 2.09BBB+ 1.84BBB 9.60BBB- 1.40

Top 10 holdings in %Position Coupon % Maturity as % of

assetsGermany 2.250 15/04/13 8.97Germany 1.500 15/04/16 6.81Finnish Governm. 4.375 04/07/19 4.51Germany 1.750 15/04/20 4.20Netherlands 4.000 15/07/19 3.73Buoni Poliennali 2.350 15/09/35 3.55Belgium 3.750 28/09/20 3.19Germany 0.750 15/04/18 2.92France OAT 1.600 25/07/15 2.91France OAT 2.500 25/07/13 2.80Total 43.59



Number of holdings



Asset Allocation in %Government Bonds / Agency Bonds 71.64Corporate Bonds 12.47Financial Bonds 10.23Emerging Market Bonds 0.28Cash/Cash Equivalents 0.85Others 4.54Total 100.00

Investment policyThe aim of the fund is to achieve aninflation-protected steady return in EUR. Thefund invests worldwide at least two-thirds of itsnet assets, in accordance with the principle ofrisk-spreading, in medium to high qualityinflation-linked debt securities, includingsynthetically constructed inflation-linked debtsecurities. The Fund may invest in othercurrencies than the EUR. The part of suchinvestments which is not hedged against theEUR may not exceed 10% of the Fund’s assets.

Fund facts

Category B(capital growth)

Unit class currency EUR EURLU0175163459

Bloomberg ticker CSILEUA LX CSILEUB LXNet Asset Value 106.81 124.73

--

Daily



Average = A+

28




Credit Suisse Bond Fund (Lux) Inflation Linked (Euro)Class A & B


Inflation-linked bonds’ returns were positive inQ3, with the overall index returning 1.0%(hedged in USD). The quarter was characterized,yet again, by strong differences across countries.Indeed, the best performing market was Europe,with a return of 4.1%, followed by Australia(2.8%) and the US (2.2%). Sentiment washelped by ECB’s introduction of a newframework for secondary short-datedgovernment bond market support in order to“safeguard the monetary policy transmission”under “strict conditionality”. Within Europe, Italymanaged to return an impressive 10.4%, while

France also profited from the positive sentiment,returning 7.3%. Germany also managed a returnof 2.6%.

Risk premia (vs. Germany) contracted heavily inthe troubled countries with spreads on Italiandebt, for example, narrowing by 90bps inSeptember. The worst performing markets wasthe UK (-3.0%), while compared to nominalbonds, inflation-linked bonds outperformed byonly 0.05%.

Duration/curve management was positive as we

held an overweight at the very long end of thecurve (30y). Market allocation was positive aswell. Our structural* underweight in Francecontributed negatively but was more thancompensated by our off benchmark position inItaly.

*France has a weight of over 70% in thebenchmark. For diversification purposes, we donot want to hold such an exposure and we arethus running a structural underweight.


The announcement by the Fed of the QE3program (quantitative easing) caused an abruptrise in US inflation expectations which was onlypartially corrected in following days. The ECB’sannouncement of Outright MonetaryTransactions (OMT), on the contrary, had only amarginal impact on European breakevens. This

is due to the different macroeconomic backdrop,which remains bleak in Europe but shows somepositive signs in the US. Overall, we think thatbreakevens are still cheap in Europe and fairlyvalued in the US. We do not see a near termcatalyst for higher real yields.

In terms of strategy, we increased the realduration of the portfolio and are now only slightlyshorter than the benchmark. On the market side,we are keeping our BTPi position after Italydropped out of the benchmark.

Portfolio managementAlexandre Bouchardy, Director, is a senior portfolio manager in the International Fixed Income team. He joined CSAM in 2002. Previouslyhe gained first experience in asset management at two different companies in Geneva and Paris. Mr. Bouchardy graduated from theUniversity of Lausanne specialising in economics and finance.

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29

Fund 76

Fund manager Alexandre BouchardyFund manager since 01/05/2007Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 356.91Inception date 24/10/2003Management fee in % p.a. 0.50Total expense ratio (ex ante) in % 0.67Benchmark (BM)

Barclays Euro Govt. Infl-Linked 1-10Y (RI) (09/07)Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)




Credit Suisse Bond Fund (Lux) Inflation Linked (Euro)Class I


2007 2008 2009 2010 2011 201295

100105110115120125130135

-5%0%5%

10%15%20%25%30%35%

2.7 2.2

7.4

0.8 1.45.14.8 5.3

7.0

2.1 1.3

7.0

CS BF (Lux) Inflation Linked (Euro) I Yearly or year-to-date performance respectively (Fund)Barclays Euro Govt. Infl-Linked 1-10Y (RI) (09/07)




Maturities in years

0%

5%

10%

15%

20%

25%

0-1 1-3 3-5 5-7 7-10 10-15 >15


EUR 100.00 100.00

Credit Ratings in %



assetsGermany 2.250 15/04/13 8.97Germany 1.500 15/04/16 6.81Finnish Governm. 4.375 04/07/19 4.51Germany 1.750 15/04/20 4.20Netherlands 4.000 15/07/19 3.73Buoni Poliennali 2.350 15/09/35 3.55Belgium 3.750 28/09/20 3.19Germany 0.750 15/04/18 2.92France OAT 1.600 25/07/15 2.91France OAT 2.500 25/07/13 2.80Total 43.59



Number of holdings



Asset Allocation in %Government Bonds / Agency Bonds 71.64Corporate Bonds 12.47Financial Bonds 10.23Emerging Market Bonds 0.28Cash/Cash Equivalents 0.85Others 4.54Total 100.00

Investment policyThe aim of the fund is to achieve aninflation-protected steady return in EUR. Thefund invests worldwide at least two-thirds of itsnet assets, in accordance with the principle ofrisk-spreading, in medium to high qualityinflation-linked debt securities, includingsynthetically constructed inflation-linked debtsecurities. The Fund may invest in othercurrencies than the EUR. The part of suchinvestments which is not hedged against theEUR may not exceed 10% of the Fund’s assets.

Fund facts


Bloomberg ticker CSILEUI LXNet Asset Value 1,307.54



Average = A+

30




Credit Suisse Bond Fund (Lux) Inflation Linked (Euro)Class I


Inflation-linked bonds’ returns were positive inQ3, with the overall index returning 1.0%(hedged in USD). The quarter was characterized,yet again, by strong differences across countries.Indeed, the best performing market was Europe,with a return of 4.1%, followed by Australia(2.8%) and the US (2.2%). Sentiment washelped by ECB’s introduction of a newframework for secondary short-datedgovernment bond market support in order to“safeguard the monetary policy transmission”under “strict conditionality”. Within Europe, Italymanaged to return an impressive 10.4%, while

France also profited from the positive sentiment,returning 7.3%. Germany also managed a returnof 2.6%.

Risk premia (vs. Germany) contracted heavily inthe troubled countries with spreads on Italiandebt, for example, narrowing by 90bps inSeptember. The worst performing markets wasthe UK (-3.0%), while compared to nominalbonds, inflation-linked bonds outperformed byonly 0.05%.

Duration/curve management was positive as we

held an overweight at the very long end of thecurve (30y). Market allocation was positive aswell. Our structural* underweight in Francecontributed negatively but was more thancompensated by our off benchmark position inItaly.

*France has a weight of over 70% in thebenchmark. For diversification purposes, we donot want to hold such an exposure and we arethus running a structural underweight.


The announcement by the Fed of the QE3program (quantitative easing) caused an abruptrise in US inflation expectations which was onlypartially corrected in following days. The ECB’sannouncement of Outright MonetaryTransactions (OMT), on the contrary, had only amarginal impact on European breakevens. This

is due to the different macroeconomic backdrop,which remains bleak in Europe but shows somepositive signs in the US. Overall, we think thatbreakevens are still cheap in Europe and fairlyvalued in the US. We do not see a near termcatalyst for higher real yields.

In terms of strategy, we increased the realduration of the portfolio and are now only slightlyshorter than the benchmark. On the market side,we are keeping our BTPi position after Italydropped out of the benchmark.


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Fund 164

Fund manager Alexandre BouchardyFund manager since 01/05/2007Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 575.29Inception date 25/09/2003Management fee in % p.a. 0.75Total expense ratio (ex ante) in % 0.92Benchmark (BM)

CB CS BF (Lux) Inflation Linked (Sfr)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)




Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr)Class A & B

Net performance in CHF (rebased to 100) and yearly performance 1)

2007 2008 2009 2010 2011 201290

95

100

105

110

115

120

125

-10%

-5%

0%

5%

10%

15%

20%

25%

0.5

-2.9

7.9

1.8 2.1 2.31.9 1.5

7.0

2.6 1.84.3

CS BF (Lux) Inflation Linked (Sfr) B Yearly or year-to-date performance respectively (Fund)CB CS BF (Lux) Inflation Linked (Sfr) Yearly or year-to-date performance respectively (Benchmark)

Net performance in CHF 1)

1 month 3 months YTD 1 year 3 years 5 yearsFund -0.05 1.22 2.30 2.69 7.04 12.27Benchmark 0.13 1.44 4.32 4.18 9.24 18.88

Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15


CHF 99.73 100.09EUR 0.45 0.10USD -0.18 -0.18

Credit Ratings in %


Benchmark CompositionSBI®Foreign AAA-BBB 3-5 years Total Return 70.00SBI®Foreign AAA-BBB 1-3 years Total Return 30.00


%Maturity as % of

assetsCorp Andina deFomento

2.625 05/11/15 1.34

CS London 2.125 05/02/15 1.31Toyota Motor Credit 2.875 20/09/16 1.27Austria 2.500 14/07/16 1.27BMW UK Capital 2.125 29/06/15 1.22New Brunswick 2.875 04/03/16 1.19Unilever 3.500 17/03/15 1.17BNG 1.500 03/11/17 1.14Electricite France 3.375 18/12/13 1.14Nordea Bank 1.500 29/09/17 1.12Total 12.16



Number of holdings

Duration and YieldFund Benchmark

Gross portfolio yield in % 0.54 -Average remaining term tomaturity in years

3.00 -

Modified duration in years 2.85 -

Asset Allocation in %Financial Bonds 29.29Government Bonds / Agency Bonds 26.77Corporate Bonds 25.95Emerging Market Bonds 4.02Covered Bonds 2.60Covered/ABS 1.84Mortgage Backed Securities 1.04Cash/Cash Equivalents 2.75Others 5.75Total 100.00

Investment policyThe aim of the fund is to achieve aninflation-protected steady return in CHF. Thefund invests worldwide at least two-thirds of itsnet assets, in accordance with the principle ofrisk-spreading, in medium to high qualityinflation-linked debt securities, includingsynthetically constructed inflation-linked debtsecurities. The Fund may invest in othercurrencies than the CHF. The part of suchinvestments which is not hedged against theCHF may not exceed 10% of the Fund’s assets.

Fund facts


Unit class currency CHF CHFLU0175163889

Bloomberg ticker CSIFSFA LX CSIFSFB LXNet Asset Value 100.60 114.96

--

Daily



Average = A

32




Credit Suisse Bond Fund (Lux) Inflation Linked (Sfr)Class A & B


Inflation-linked bonds’ returns were positive inQ3, with the overall index returning 1.0%(hedged in USD). The quarter was characterized,yet again, by strong differences across countries.Indeed, the best performing market was Europe,with a return of 4.1%, followed by Australia(2.8%) and the US (2.2%). Sentiment washelped by ECB’s introduction of a newframework for secondary short-datedgovernment bond market support in order to“safeguard the monetary policy transmission”

under “strict conditionality”. Within Europe, Italymanaged to return an impressive 10.4%, whileFrance also profited from the positive sentiment,returning 7.3%. Germany also managed a returnof 2.6%.

Risk premia (vs. Germany) contracted heavily inthe troubled countries with spreads on Italiandebt, for example, narrowing by 90bps inSeptember. The worst performing markets wasthe UK (-3.0%), while compared to nominal

bonds, inflation-linked bonds outperformed byonly 0.05%.

The inflation swaps overlay delivered a positiveperformance contribution due to the rise inbreakeven inflation: the 5 year USD breakevenincreased by 13bps during the quarter whereasthe 5 year EUR breakeven was 5bps higher.The fund maintained a slightly short real durationexposure relative to the benchmark during thequarter.


The announcement by the Fed of the QE3program (quantitative easing) caused an abruptrise in US inflation expectations which was onlypartially corrected in following days. The ECB’sannouncement of Outright MonetaryTransactions (OMT), on the contrary, had only a

marginal impact on European breakevens. Thisis due to the different macroeconomic backdrop,which remains bleak in Europe but shows somepositive signs in the US. Overall, we think thatbreakevens are still cheap in Europe and fairlyvalued in the US. We do not see a near term

catalyst for higher real yields.

In terms of strategy, real rates duration remainsslightly shorter than the benchmark and inflationduration remains close to zero. Credit exposureremains defensive.


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Fund 54

Fund manager Alexandre BouchardyFund manager since 01/05/2007Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 407.28Inception date 25/09/2003Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.17Benchmark (BM)

Barclays US Govt. Infl-Linked 1-10Y (RI) (09/07)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)




Credit Suisse Bond Fund (Lux) Inflation Linked (US$)Class A & B


2007 2008 2009 2010 2011 201290

100

110

120

130

140

150

-10%

0%

10%

20%

30%

40%

50%

9.0

-2.6

8.13.6 5.8

2.9

10.6

-1.7

11.15.2

9.04.6

CS BF (Lux) Inflation Linked (US$) B Yearly or year-to-date performance respectively (Fund)Barclays US Govt. Infl-Linked 1-10Y (RI) (09/07)




Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 10-15 >15


USD 95.51 99.55AUD 4.49 0.45

Credit Ratings in %

AAA 8.17AA+ 85.11AA 1.04AA- 1.18A+ 2.91A 0.77BBB+ 0.13BBB 0.70


assetsUS Treasury 1.250 15/07/20 7.78US Treasury 2.000 15/01/14 6.87US Treasury 1.125 15/01/21 6.27US Treasury 2.500 15/07/16 5.50US Treasury 2.625 15/07/17 5.41US Treasury 1.875 15/07/15 5.24US Treasury 2.000 15/07/14 5.21US Treasury 1.625 15/01/18 4.53US Treasury 0.625 15/07/21 4.26US Treasury 2.000 15/01/16 4.25Total 55.31



Number of holdings



Asset Allocation in %Government Bonds / Agency Bonds 90.74Financial Bonds 3.19Corporate Bonds 1.15Covered/ABS 0.77Cash/Cash Equivalents 2.48Others 1.68Total 100.00

Investment policyThe aim of the fund is to achieve aninflation-protected steady return in USD. Thefund invests worldwide at least two-thirds of itsnet assets, in accordance with the principle ofrisk-spreading, in medium to high qualityinflation-linked debt securities, includingsynthetically constructed inflation-linked debtsecurities. The Fund may invest in othercurrencies than the USD. The part of suchinvestments which is not hedged against theUSD may not exceed 10% of the Fund’s assets.

Fund facts


Unit class currency USD USDLU0175164267

Bloomberg ticker CSILUSA LX CSILUSB LXNet Asset Value 115.20 137.29

--

Daily



Average = AA

34




Credit Suisse Bond Fund (Lux) Inflation Linked (US$)Class A & B


Inflation-linked bonds’ returns were positive inQ3, with the overall index returning 1.0%(hedged in USD). The quarter was characterized,yet again, by strong differences across countries.Indeed, the best performing market was Europe,with a return of 4.1%, followed by Australia(2.8%) and the US (2.2%). Sentiment washelped by ECB’s introduction of a newframework for secondary short-dated

government bond market support in order to“safeguard the monetary policy transmission”under “strict conditionality”. Within Europe, Italymanaged to return an impressive 10.4%, whileFrance also profited from the positive sentiment,returning 7.3%. Germany also managed a returnof 2.6%.

Risk premia (vs. Germany) contracted heavily in

the troubled countries with spreads on Italiandebt, for example, narrowing by 90bps inSeptember. The worst performing markets wasthe UK (-3.0%), while compared to nominalbonds, inflation-linked bonds outperformed byonly 0.05%.

The overweight in Australia was positive asAustralian linkers outperformed US TIPS.


The announcements of QE3 by the Fed causedan abrupt rise in US inflation expectations whichwas only partially corrected in following days.The announcement of Outright MonetaryTransactions (OMT) by the ECB on the contraryhad only a marginal impact on Europeanbreakevens. This is due to the different

macroeconomic backdrop, which remains bleakin Europe but shows some positive signs in theUS. Overall we think that breakevens are stillcheap in Europe and fairly valued in the US. Wedo not see a near term catalyst for higher realyields.

In terms of strategy, we increased the realduration of the portfolio and we are now onlyslightly shorter than the benchmark. On themarket side, we are keeping an overweight inAustralia against the US for diversificationpurposes.


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Fund 170

Fund manager Eric SuterFund manager since 01/06/2005Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 913.24Inception date 01/11/1991Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.07Benchmark (BM) SBI Foreign AAA-BBB (RI) (07/07)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)




Credit Suisse Bond Fund (Lux) SfrClass A & B


2007 2008 2009 2010 2011 2012859095

100105110115120125

-15%-10%-5%0%5%

10%15%20%25%

-2.2-5.1

9.8

3.70.2

4.6

-1.0

1.1

7.9

3.7 2.75.4

CS BF (Lux) Sfr B Yearly or year-to-date performance respectively (Fund)SBI Foreign AAA-BBB (RI) (07/07) Yearly or year-to-date performance respectively (Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15


CHF 98.31 99.89EUR 1.69 0.11

Credit Ratings in %

AAA 42.49AA+ 13.09AA 8.26AA- 4.11A+ 15.84A 8.51A- 3.13BBB (Bucket) 4.14D 0.43


%Maturity as % of

assetsVorarlberger LB 2.375 09/08/17 2.50Kommunekredit 2.625 17/10/16 2.45BNG 2.500 21/07/25 2.27General Electric 2.500 08/02/18 2.26NWB 2.250 03/09/19 2.06Royal Bk of Scotl. 2.860 13/12/21 1.77Res Ferre FR 2.450 28/02/23 1.69Banque Fed CredMut

2.500 29/04/13 1.67

Quebec 2.250 05/10/15 1.67Quebec 2.625 21/06/17 1.65Total 19.99



Number of holdings



Asset Allocation in %Financial Bonds 29.43Covered/ABS 17.74Government 17.61Sovereign/Agencies 15.43Industrial Bonds 9.91Utilities 2.82Cash/Cash Equivalents 7.06Total 100.00

Investment policyThe aim of the fund is to achieve a high andsteady income in CHF whilst taking due accountof the security of the capital. The fund investsin high and to a limited extent in medium qualitybonds and other fixed and variable rate securitiesof which at least two-thirds are denominated inCHF. The Fund may invest in other currenciesthan the CHF. The part of such investmentswhich is not hedged against the CHF may notexceed 10% of the Fund’s assets.

Fund facts



Bloomberg ticker CRSSFRA LX CRSSFRB LXNet Asset Value 288.95 523.23

--

Daily



Average = A+

36




Credit Suisse Bond Fund (Lux) SfrClass A & B


Signals of weakness from the global economyhave become more frequent in Q3. WhileEurope's southern periphery has been plungedinto severe recession, even the strongercountries are being dragged down by the sicklycondition of the economy. These uncertaintieshave prompted the SNB to intervene again inorder to defend the EUR/CHF exchange rate,bringing down yields on federal bonds tohistorically low levels.

Concerted efforts by the ECB, the Fed and theBoJ to increase liquidity, as well as the ruling byGermany's Federal Constitutional Court, helped

marginally ease the conditions, mainly on theEuropean credit markets. The Swiss interest ratecurve normalized, flattening off slightly. Theyields on Swiss bonds could recover from anall-time low (the yield on 10-year Swiss federalbonds at one point touched 0.45%). Still theinterest rates for government bonds withmaturities of up to four years remain negative.Even the decision of the Swiss Finance Ministryto issue bonds with short maturities for the firsttime in five years was not able to change thissituation.

3m CHF Libor futures, too, recovered from very

low levels but are likely to remain low untilDecember 2014. In the reporting quarter, thecurve normalized and flattened off with thehighest yields in the 7-10 year range. At the endof the quarter, the 3m CHF Libor is 0.04% andyields on Swiss government bonds are -0.11%over two years and 0.57% over ten years. Thesearch for higher yields led to a further narrowingof credit spreads and to correspondingly positivereturns in the lower credit rating segment. Thequarterly performances of the benchmarkindexes were +1.99% for the SBI® Foreign,+1.02% for the SBI® Domestic and +1.46% forthe SBI® Total AAA-BBB.


The financial crisis continues to impact themarkets. No one actually knows how and whenit is going to end. The ECB's announcementthat it would - under certain conditions - buyup government bonds in crisis-stricken countriesto an unlimited extent should not give theimpression that the problems in the eurozone'seconomy have now been fixed. The implicitguarantee is first and foremost designed todirectly extend a helping hand to the financialmarkets – the effects on the real economy,however, are likely to be limited. The problemsand imbalances within Europe are daunting andrequire fundamental structural reform before the

ECB will be able to scale back its subsidies.

In its assessment of monetary policy ofSeptember 13, the SNB maintained theminimum CHF/EUR exchange rate at 1.20 CHFper EUR and left the target range for the CHF3m Libor at 0%-0.25%. The inflation forecasthas again been revised downward in the light ofdeteriorating prospects for the world economy.The SNB trimmed its growth forecast forSwitzerland in 2012 to around 1% (previously1.5%). In its underlying scenario, it continues tosee great downside risks for the Swiss economydue to the eurozone crisis and upcoming fiscal

policy decisions in the US.

Our factor model has slightly changed and stillshows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution. The absolute low yield level and themarginal loss of carry convinced us to go on withour short duration strategy, expecting a furthernormalization on the curve. Therefore, werecommend a bullet positioning with anoverweight in the medium term maturities andunderweight the long end.

Portfolio managementEric Suter, Director, is a senior portfolio manager. He heads the Swiss Fixed Income Team and is responsible for the Swiss Fixed Incomeinvestment decision process. Eric joined CS Group in 1983 and worked in trading, product development and structuring of fixed incomeproducts. In 1995 he moved to fixed income asset management. He received a Bachelor in Business Administration from the KaderschuleZurich (KSZ), is a Certified International Investment Analyst (CIIA) and a member of the Swiss Bond Commission. Eric Suter, Director,leitet das Schweizer Franken Obligationen Team und ist verantwortlich für den Schweizer Franken Anlageprozess. Er stiess 1983 zur CSGroup und arbeitete im Handel, der Produkteentwicklung sowie in der Strukturierung von Zinsprodukten. 1995 wechselte er insObligationen Portfolio Management. Hr. Suter hat einen Abschluss in Betriebsökonomie der Kaderschule Zürich (KSZ), ist dipl.Finanzanalytiker und Vermögensverwalter (AZEK) sowie Mitglied der Schweizer Obligationenkommission (OKS).

Eric Suter, Director, dirige l'équipe Obligations CHF. Il a rejoint le CS Group en 1983 et a travaillé dans la vente, le développement produits ainsi que lastructuration de produits obligataires. En 1995, il est passé dans le domaine Portfolio Management Obligations. E. Suter dispose de diplômes en économied'entreprise de l'Ecole de cadres de Zurich (KSZ), d'analyste financier et gestionnaire de fortune (CFPI) et est membre de la Commission Suisse desObligations (OKS).

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37

Fund 130

Fund manager Eric SuterFund manager since 25/02/1997Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 431.09Inception date 08/12/1995Management fee in % p.a. 2) 0.45Total expense ratio (ex ante) in % 0.62Benchmark (BM)

SBI Foreign AAA-BBB 1-3Y (RI) (07/07)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)




Credit Suisse Bond Fund (Lux) Short-Term SfrClass A & B


2007 2008 2009 2010 2011 201295

100

105

110

115

120

-5%

0%

5%

10%

15%

20%

0.82.1

4.5

1.2 0.7 1.52.1 1.2

6.0

2.0 1.32.6

CS BF (Lux) Short-Term Sfr B Yearly or year-to-date performance respectively (Fund)SBI Foreign AAA-BBB 1-3Y (RI) (07/07) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.02 0.33 1.46 1.29 3.48 10.79Benchmark 0.11 1.02 2.65 2.34 6.34 14.23

Maturities in years

0%

10%

20%

30%

40%

50%

60%

0-1 1-3 3-5 5-7 7-10 10-15 >15


CHF 100.00 100.00

Credit Ratings in %

AAA 26.04AA+ 9.50AA 9.05AA- 9.55A+ 14.35A 15.67A- 14.16BBB+ 0.91BBB 0.74D 0.03


%Maturity as % of

assetsGECC 2.000 18/02/14 2.40Brandbrew 4.500 11/06/14 1.75Total 2.375 30/11/12 1.66Oest KB 3.000 23/10/15 1.55Electricite France 3.375 18/12/13 1.48Poland 3.000 23/09/14 1.46ENBW Intl.Finance

3.125 25/02/13 1.43

Coca-Cola 3.000 13/03/13 1.42Sanofi-Aventis 3.375 21/12/15 1.30Export Dev. CAN 2.625 24/07/17 1.29Total 15.74



Number of holdings



Asset Allocation in %Financial Bonds 25.46Industrial Bonds 22.21Government 15.34Covered/ABS 13.61Sovereign/Agencies 10.12Utilities 9.99Cash/Cash Equivalents 3.26Total 99.99

Investment policyThe aim of the Fund is to achieve a high andsteady income in Swiss francs. The Fund investsin top rated short-term bonds and other fixedand variable rate securities of which at leasttwo-thirds are denominated in Swiss francs. TheFund may invest in other currencies than theCHF. The part of such investments which is nothedged against the CHF may not exceed 10%of the Fund’s assets.

Fund facts



Bloomberg ticker CRSSBAI LX CRSSBBI LXNet Asset Value 93.57 133.85

--

Daily

2) Please note that following a decision by the Fund'sManagement Company, Credit Suisse Fund Management S.A.,as from 1 May 2010 the Annual Management Charge ("AMC")is being charged at a reduced rate of 0.45%. The ManagementCompany reserves the right to reinstate the full AMC at itsdiscretion: in the event that such a decision is taken, an update tothis footnote will be made in advance indicating the future date ofreinstatement.



Average = A+

38




Credit Suisse Bond Fund (Lux) Short-Term SfrClass A & B















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39

Fund manager Maurizio PedriniFund manager since 13/12/2002Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 117.22Inception date 13/12/2002Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 1.17Benchmark (BM) LIBOR EUR 3MSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 85


Credit Suisse Bond Fund (Lux) Corporate Short Duration(Euro)Class A & B


2007 2008 2009 2010 2011 201285

90

95

100

105

110

115

120

-15%

-10%

-5%

0%

5%

10%

15%

20%

0.9

-8.4

15.7

2.8

-1.4

5.74.3 4.81.3 0.7 1.3 0.5

CS BF (Lux) Corporate Short Duration (Euro)B

Yearly or year-to-date performance respectively (Fund)

LIBOR EUR 3MYearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15


EUR 67.06 99.47USD 32.93 0.52

Credit Ratings in %

AAA 10.60AA 1.04AA- 7.74A+ 14.09A 20.80A- 15.39BBB+ 10.85BBB 14.50BBB- 4.98


%Maturity as % of

assetsQuebec 9.000 01/04/16 2.17Toronto Dominion 1.625 14/09/16 2.06Veolia 1.750 17/06/15 2.05Compagnie Fin etIndus

5.000 24/05/21 2.02

Pfizer Inc. 4.750 03/06/16 1.96Barclays 4.000 20/01/17 1.93Eur. InvestmentBank

3.125 03/03/17 1.91

America Movil SAB 3.750 28/06/17 1.90Gaz Capital 5.364 31/10/14 1.90Dekabank 4.625 21/12/15 1.89Total 19.79


Annualised volatility in % 2.82 5.02Information ratio 0.72 0.11Tracking Error (Ex post) 2.85 5.22Maximum draw down in % 3) -3.46 -12.363) Maximum drawdown is the most negative cumulative returnover a given time period.



Asset Allocation in %Industrial Bonds 45.58Financial Bonds 30.32Government 11.84Utilities 4.19Sovereign/Agencies 3.70Covered/ABS 2.99Funds 1.59Derivatives -5.13Cash/Cash Equivalents 4.91Total 99.99

Investment policyThe aim of the fund is generate a steady incomein Euro. The fund invests mainly in investmentgrade fixed income securities with a maturitybetween 1 and 5 years of corporate issuers. Thefund may use derivate instruments in order toreduce the interest-risk of debt instruments witha longer maturity, targeting duration between 0and 3 years.

Fund facts



Bloomberg ticker CSBTPEA LX CSBTPEB LXNet Asset Value 96.71 124.48

--

Daily


Number of holdings


Average = A-

40




Credit Suisse Bond Fund (Lux) Corporate Short Duration(Euro)Class A & B


Signals of weakness from the global economyhave become more frequent in Q3. WhileEurope's southern periphery has been plungedinto severe recession, even the strongercountries are being dragged down by the weakercondition of the economy. Concerted efforts bythe ECB, the Fed and the BoJ to increaseliquidity helped marginally ease conditions, mainlyin the European credit markets. Over the quarter,credit spreads in Europe, as measured by theiTraxx Europe Main Index (5yrs), narrowed from166bps to 135bps, while in the US (CDX IG 5

yrs) they narrowed from 112bps to 100bps.

The ECB announced potentially unlimitedpurchases of short-dated government bonds andthus committed to act as a lender of last resortnot only for banks but also for sovereigns. TheFed announced that they would keep short-terminterest rates near zero for even longer, now untilmid-2015. Unlike in previous rounds of so-calledquantitative easing, the Fed has notpre-determined the amount of bonds it plans tobuy.

The more aggressive monetary expansion ledto slightly higher bond yields, though these arepartly offset by restrictive fiscal policy and shouldnot be seen as a big uptrend. The US labormarket showed some gradual improvement withthe unemployment rate now standing at 7.8%.The slowdown in growth of the Chinese economyfrom unsustainable levels was “engineered” bypolicy makers. However, growth has now dippedbelow the official target.


The risk of a renewed crisis has diminishedsomewhat. Due to the decision of the ECB toprovide unlimited support, risk premia areexpected to decline and business confidenceshould gradually recover. Therefore, overallfunding costs for governments, businesses andbanks should improve visibly, especially in theweaker European economies. However, the pathto sustainable stabilization remains difficult.

In the US, the Fed’s resolve should help keepdebt funding costs low and support asset pricesas well as the confidence of consumers andbusinesses. The key worry remains how fiscal

policy will evolve in early 2013. There is someevidence that corporations are holding back onspending due to the uncertainty over theso-called fiscal cliff.

Emerging markets central banks could also easemonetary policy to limit the negative impact ofcurrency strength. In Brazil, a public investmentprogram and privatization efforts, in combinationwith lower interest rates and a weaker currency,should support continued improvement from asoft patch.

Our factor model has slightly changed and still

shows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution. The absolute low yield level and themarginal loss of carry convinced us to go onwith our short duration, expecting a furthernormalization on the curve. In corporate bondswe still prefer issuers with a good credit profileand recommend increasing the diversification inthe portfolio as a lot of frequent issuers are stillexpensive.

Portfolio managementMaurizio Pedrini is a Managing Director of Credit Suisse's Asset Management business, based in Zurich. He is Global Co-Head FixedIncome, focusing on retail funds and institutional products. He joined Credit Suisse in 1998. Prior to this he was Head of Bond Researchand Bond Fund Management at UBS Private Banking. Maurizio has more than 17 years of professional experience in the fixed income andforeign exchange business. Maurizio holds a Master's degree from the University of Zurich (specializing in Finance and Monetary Theory)and is a Certified EFFAS Financial Ana-lyst. He is a visiting lecturer at the University of Zurich for the EFFAS Financial Analyst studycourse and at the University of Applied Sciences Northwestern Switzerland on various fixed income topics. Maurizio is a member of theSwiss Bond Commission.

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41

Fund manager Maurizio PedriniFund manager since 13/12/2002Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 210.44Inception date 13/12/2002Management fee in % p.a. 0.50Total expense ratio (ex ante) in % 0.67Benchmark (BM) LIBOR CHF 3MSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 123


Credit Suisse Bond Fund (Lux) Corporate Short Duration(Sfr)Class A & B


2007 2008 2009 2010 2011 201285

90

95

100

105

110

115

120

-15%

-10%

-5%

0%

5%

10%

15%

20%

-0.4

-11.1

15.3

3.6

-1.4

4.62.6 2.7

0.4 0.2 0.1 0.1

CS BF (Lux) Corporate Short Duration (Sfr)B


LIBOR CHF 3MYearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15


CHF 66.07 94.27EUR 26.74 5.65USD 5.44 0.07GBP 1.75 0.02

Credit Ratings in %



%Maturity as % of

assetsBG Energy Capital 5.875 13/11/12 1.52Veolia 1.750 17/06/15 1.38Rabobank 6.875 12/11/49 1.35Poland 3.250 15/05/19 1.34PHILIP MORRIS 5.875 04/09/15 1.32BMW US Capital 3.625 04/03/15 1.30Siemens 5.250 14/09/66 1.30BelgelectricFinance

3.250 22/12/14 1.29

IBM 3.625 27/05/15 1.29Vattenfall Treasury 3.375 27/02/15 1.29Total 13.38





Asset Allocation in %Industrial Bonds 39.06Financial Bonds 25.88Government 14.46Utilities 11.60Sovereign/Agencies 3.26Covered/ABS 2.89Funds 1.07Derivatives -1.11Cash/Cash Equivalents 2.89Total 100.00

Investment policyThe aim of the fund is generate a steady incomein Swiss Franc. The fund invests mainly ininvestment grade fixed income securities with amaturity between 1 and 5 years of corporateissuers. The fund may use derivate instrumentsin order to reduce the interest-risk of debtinstruments with a longer maturity, targetingduration between 0 and 3 years.

Fund facts



Bloomberg ticker CSBTPSA LX CSBTPSB LXNet Asset Value 96.87 112.17

--

Daily


Number of holdings


Average = A-

42




Credit Suisse Bond Fund (Lux) Corporate Short Duration(Sfr)Class A & B














Cre

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43

Fund manager Maurizio PedriniFund manager since 13/12/2002Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 109.72Inception date 13/12/2002Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 0.88Benchmark (BM) LIBOR USD 3MSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 86


Credit Suisse Bond Fund (Lux) Corporate Short Duration(US$)Class A & B


2007 2008 2009 2010 2011 201290

95

100

105

110

115

120

-10%

-5%

0%

5%

10%

15%

20%

3.4

-5.3

14.3

3.0

-1.4

4.65.43.1

0.7 0.3 0.3 0.4

CS BF (Lux) Corporate Short Duration (US$)B


LIBOR USD 3MYearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 10-15 >15


USD 70.08 99.09EUR 29.74 0.73GBP 0.10 0.10CHF 0.08 0.08

Credit Ratings in %

AAA 9.58AA+ 2.07AA 1.12AA- 7.71A+ 13.99A 18.66A- 13.93BBB (Bucket) 30.45Not rated 2.49


%Maturity as % of

assetsZurich Fin.Services

5.750 02/10/23 2.54

Worldbank 9.750 23/01/16 2.47Transneft 5.670 05/03/14 2.42State Bank ofVictoria

0.791 15/10/49 2.33

Petronas Capital 5.250 12/08/19 2.17Bristol Myers 4.375 15/11/16 2.06Italy 6.875 27/09/23 2.00LDW Rentenbank 3.125 15/07/15 1.96Caisse d'amort 2.875 02/03/15 1.94Wells Fargo & Co. 3.750 01/10/14 1.61Total 21.50





Asset Allocation in %Industrial Bonds 44.63Financial Bonds 25.22Government 11.69Sovereign/Agencies 9.43Utilities 2.56Funds 1.42Derivatives -4.68Cash/Cash Equivalents 9.73Total 100.00

Investment policyThe aim of the fund is generate a steady incomein US Dollar. The fund invests mainly ininvestment grade fixed income securities with amaturity between 1 and 5 years of corporateissuers. The fund may use derivate instrumentsin order to reduce the interest-risk of debtinstruments with a longer maturity, targetingduration between 0 and 3 years.

Fund facts



Bloomberg ticker CSBTPUA LX CSBTPUB LXNet Asset Value 99.08 130.83

--

Daily


Number of holdings


Average = A-

44




Credit Suisse Bond Fund (Lux) Corporate Short Duration(US$)Class A & B














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Purchases SalesBeni Stabili -- -- -

Fund manager Frederik De BlockFund manager since 01/10/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 27.80Inception date 06/07/2001Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.16Benchmark (BM)

FTSE EPRA/NAREIT Dev. Europe Capped (NR) (01/10)

Unit Class Category B(capital growth)


Redemptions DailyEU taxation In scope - no tax


Credit Suisse Equity Fund (Lux) European PropertyClass B


2007 2008 2009 2010 2011 201220

40

60

80

100

120

140

160

-80%

-60%

-40%

-20%

0%

20%

40%

60%

-35.0-48.3

24.014.5

-14.5

19.3

-31.9

-48.6

36.1

16.3

-10.4

19.0

CS EF (Lux) European Property BYearly or year-to-date performance respectively(Fund)

FTSE EPRA/NAREIT Dev. Europe Capped (NR)(01/10)



1 month 3 months YTD 1 year 3 years 5 yearsFund -0.57 5.44 19.33 19.13 16.35 -36.42Benchmark -0.39 5.81 19.03 19.66 28.65 -26.37

Sectors in %Fund

Diversified REITs 42.08Retail REITs 29.57Industrial & Office REITs 21.65Residential REITs 4.78Speciality REITs 1.14Free Cash 0.78

Currencies in %

GBP 41.17EUR 39.68SEK 10.28CHF 7.99NOK 0.88

Countries in %

United Kingdom 40.91France 21.03Sweden 10.29Germany 9.18Switzerland 8.00Netherlands 5.23Belgium 1.43Finland 0.99Norway 0.88Others 2.06

Significant Transactions

Investment policyThe subfund invests throughout Europe in stocksof companies operating in the real estate marketand related industries. This sector consists ofenterprises which provide, produce, develop,finance and/or sell services and products for thereal estate market. There will not be any directinvestments in real estate.

Fund facts


Bloomberg ticker CSEFEPB LXNet Asset Value 13.95


Annualised volatility in % 16.29 22.33Tracking Error (Ex post) 2.55 3.60Beta 1.07 0.96


46




Credit Suisse Equity Fund (Lux) European PropertyClass B


With respect to the announced measures toresolve the euro crisis and to stimulate globalgrowth, European real estate stocks performedwell. During Q3 2012, the EPRA EuropeCapped Index (all figures in EUR terms) gained5.8%. Investors are willing to take a bit morerisk as the ECB has stepped in to save theeuro. Those companies with big discounts toNAV were in favor and Italy, where the averagediscount is above 50%, was the strongest

country.

Within the fund, we bought a position in BeniStabili, the leading office play in Italy with adiscount to NAV of more than 60%. Swedenand Norway also performed well, as the outlookfor GDP growth is still stronger than in mostother European countries. However we reducedour overweight position in Sweden as valuationshave become too rich. Switzerland, together with

Belgium and the Netherlands, ended the quarterwith a small loss. We remain overweight France,Sweden, UK and residential in Germany, andunderweight Switzerland due to the convictionthat such stocks are too expensive. We alsoremain underweight companies with a largeexposure to Southern Europe as the economicsituation remains very challenging over there.


Equities rose after Mr. Bernanke’s and Mr.Draghi’s promises of stimulus and support, andwe see them eventually rising further. But willmonetary accommodation mean inflation? Wethink the answer depends on when and whereyou look.

“Traditional” consumer price inflation in the USand Europe is unlikely for some time to come.Unemployment rates are mostly too high,companies have too much capacity, demand istoo weak, competition too fierce. But in less“traditional” areas, there are already signs of

price pressure. Base metals prices saw sharprises after the central bank announcements andoil prices may be benefiting somewhat. Houseprices in many German cities are rising, whilethose in the US seem to have bottomed, and weexpect both to rise significantly further over thenext two years.

Strategically, real estate investments shouldbenefit from their relatively high rental yields inthe current near-zero interest rate environment.The downside risks for European markets havereceded considerably following the ECB's

bond-buying plan announcement. Europeanproperty stocks could therefore continue tobenefit from their less stretched valuations, i.e.higher dividend yields.

Within the fund, we continue to avoid eitherhighly leveraged companies or those with highexposure to Southern and Central Europe. Weprefer companies with decent balance sheetsand potential for future growth. For the timebeing the fund is overweight in Sweden, theUK and France, and underweight in Greece,Belgium, Switzerland, Austria and Spain.

Portfolio managementFrederik De Block is a Vice President and Investment Professional for European real estate securities. Mr. De Block joined the team inFebruary 2008 from Deutsche Bank, where he was an equity fund manager. Previously Mr. De Block was a financial analyst for Europeancompanies. Mr. De Block is a CFA charterholder and holds both a Master's Degree in Finance from Ehsal/Brussels and a Master'sDegree in Business Economics from the University of Leuven.

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Purchases SalesBeni Stabili -- -- -

Fund manager Frederik De BlockFund manager since 01/10/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 27.80Inception date 06/07/2001Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.14Benchmark (BM)

FTSE EPRA/NAREIT Dev. Europe Capped (NR) (01/10)

Unit Class Category I (capitalgrowth)


Min. Init. Investm. Amount (in mill.) 3Redemptions DailyEU taxation In scope - no tax


Credit Suisse Equity Fund (Lux) European PropertyClass I


2007 2008 2009 2010 2011 201220

40

60

80

100

120

140

160

-80%

-60%

-40%

-20%

0%

20%

40%

60%

-34.4-47.8

25.315.7

-13.6

20.3

-31.9

-48.6

36.1

16.3

-10.4

19.0

CS EF (Lux) European Property IYearly or year-to-date performance respectively(Fund)

FTSE EPRA/NAREIT Dev. Europe Capped (NR)(01/10)



1 month 3 months YTD 1 year 3 years 5 yearsFund -0.48 5.74 20.28 20.43 20.01 -33.06Benchmark -0.39 5.81 19.03 19.66 28.65 -26.37

Sectors in %Fund

Diversified REITs 42.08Retail REITs 29.57Industrial & Office REITs 21.65Residential REITs 4.78Speciality REITs 1.14Free Cash 0.78

Currencies in %

GBP 41.17EUR 39.68SEK 10.28CHF 7.99NOK 0.88

Countries in %

United Kingdom 40.91France 21.03Sweden 10.29Germany 9.18Switzerland 8.00Netherlands 5.23Belgium 1.43Finland 0.99Norway 0.88Others 2.06


Investment policyThe subfund invests throughout Europe in stocksof companies operating in the real estate marketand related industries. This sector consists ofenterprises which provide, produce, develop,finance and/or sell services and products for thereal estate market. There will not be any directinvestments in real estate.

Fund facts


Bloomberg ticker CSEFEPI LXNet Asset Value 1,564.46




48




Credit Suisse Equity Fund (Lux) European PropertyClass I


With respect to the announced measures toresolve the euro crisis and to stimulate globalgrowth, European real estate stocks performedwell. During Q3 2012, the EPRA EuropeCapped Index (all figures in EUR terms) gained5.8%. Investors are willing to take a bit morerisk as the ECB has stepped in to save theeuro. Those companies with big discounts toNAV were in favor and Italy, where the averagediscount is above 50%, was the strongest

country.

Within the fund, we bought a position in BeniStabili, the leading office play in Italy with adiscount to NAV of more than 60%. Swedenand Norway also performed well, as the outlookfor GDP growth is still stronger than in mostother European countries. However we reducedour overweight position in Sweden as valuationshave become too rich. Switzerland, together with

Belgium and the Netherlands, ended the quarterwith a small loss. We remain overweight France,Sweden, UK and residential in Germany, andunderweight Switzerland due to the convictionthat such stocks are too expensive. We alsoremain underweight companies with a largeexposure to Southern Europe as the economicsituation remains very challenging over there.


Equities rose after Mr. Bernanke’s and Mr.Draghi’s promises of stimulus and support, andwe see them eventually rising further. But willmonetary accommodation mean inflation? Wethink the answer depends on when and whereyou look.

“Traditional” consumer price inflation in the USand Europe is unlikely for some time to come.Unemployment rates are mostly too high,companies have too much capacity, demand istoo weak, competition too fierce. But in less“traditional” areas, there are already signs of

price pressure. Base metals prices saw sharprises after the central bank announcements andoil prices may be benefiting somewhat. Houseprices in many German cities are rising, whilethose in the US seem to have bottomed, and weexpect both to rise significantly further over thenext two years.

Strategically, real estate investments shouldbenefit from their relatively high rental yields inthe current near-zero interest rate environment.The downside risks for European markets havereceded considerably following the ECB's

bond-buying plan announcement. Europeanproperty stocks could therefore continue tobenefit from their less stretched valuations, i.e.higher dividend yields.

Within the fund, we continue to avoid eitherhighly leveraged companies or those with highexposure to Southern and Central Europe. Weprefer companies with decent balance sheetsand potential for future growth. For the timebeing the fund is overweight in Sweden, theUK and France, and underweight in Greece,Belgium, Switzerland, Austria and Spain.

Portfolio managementFrederik De Block is a Vice President and Investment Professional for European real estate securities. Mr. De Block joined the team inFebruary 2008 from Deutsche Bank, where he was an equity fund manager. Previously Mr. De Block was a financial analyst for Europeancompanies. Mr. De Block is a CFA charterholder and holds both a Master's Degree in Finance from Ehsal/Brussels and a Master'sDegree in Business Economics from the University of Leuven.

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Purchases SalesLUXOTTICA REMY COINTREAU- CHRISTIAN DIOR- LVMH

Fund manager Patrick Kolb, Marjorie SonigoFund manager since 01/07/2009, 19/06/2006Location Zürich, ParisFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 216.58Inception date 07/07/2006Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.15Benchmark (BM) MSCI World (NR) (09/06)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) Global PrestigeClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

-2.3

-41.3

40.349.7

0.4

15.3

-1.7

-37.6

25.919.5

-2.4

14.0

CS EF (Lux) Global Prestige B Yearly or year-to-date performance respectively (Fund)MSCI World (NR) (09/06) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund -3.06 1.28 15.35 26.78 85.93 35.09Benchmark 0.67 5.25 14.03 26.81 41.07 -0.82

Sectors in %Fund

Consumer Goods 41.51Cosmetics 14.28Beverages and tobacco 12.11Watchmakers 11.43Automobiles 5.53Retail 4.17Leisure and Tourism 3.08Cash/Cash Equivalents 7.89

Currencies in %

EUR 56.05USD 24.76CHF 9.11HKD 6.24GBP 2.06BRL 1.78

Countries in %

France 34.64USA 24.65Italy 12.17Switzerland 7.90Germany 6.82Hong Kong 2.33United Kingdom 1.99Brazil 1.78China 0.42Others 7.31


Investment policyThe aim of the Fund is to achieve the highestpossible capital growth by investing worldwidein companies with business activities in theproduction, distribution and sales of luxury goodsand services (e.g. jewellery, watches, fashion,automobile, cosmetics, spirits and hotels).

Fund facts


Bloomberg ticker CSEFGPB LXNet Asset Value 15.86




50




Credit Suisse Equity Fund (Lux) Global PrestigeClass B


Stockmarkets were globally positive in Q3 thanksto central banks decisions. The luxury goodssector followed this positive trend in July andAugust, but was affected in September byBurberry’s publications. If we can notice a growthnormalization in the luxury sector, fundamentalsare still there.

Over the quarter, the best performancecontributors were in the US: VF Corp, Estee

Lauder and Tiffany. Performance detractorswere essentially in Europe, with Burberryaffected by a disappointing announcement of flatorganic Q2 sales and expectations for the wholeyear in the minimum range.

During the quarter, our cash position wasmaintained and we reduced our exposure towatches (Swatch Group in Switzerland). On theother hand, we increased the exposure to more

defensive sub-sectors and reinforced positions inretail (PPR in France) and in consumer goods(Luxottica in Europe and VF Corp in the US). Weremain focused on sub sectors with high visibility:consumer goods, cosmetics and spirits, whichrepresent respectively 41%, 14% and 12% ofthe fund as at the end of Q3. The geographic mixbetween US and Europe was also improved, withthe reinforcement of some stocks (VF Corp andPolo Ralph Lauren).


Despite the macroeconomic malaise, tourismtrends have remained robust throughout 2011.Travel spending by Chinese tourists wasestimated to be USD 70bn last year, makingthem the third-largest travel spenders worldwide.

Apart from Europe, Hong Kong is another majorshopping destination for Chinese outboundtourists due to high import duties and taxes inChina, as well as the unavailability of the latestfashions and the quest for authenticity.

Our optimism for the luxury sector’s long termgrowth prospects remains intact. The currentvaluations still offer upside potential as earningsgrowth remains robust.

Portfolio managementPatrick Kolb is working since June 2005 as a Portfolio Manager at Credit Suisse in Global Equities. After graduation in 2001 in majorfinance at University of Zurich, he was a PhD-Student and a Research Assistant at the Swiss Banking Institute of the University of Zurich.He finished his doctorate in 2005.

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Purchases SalesLUXOTTICA REMY COINTREAU- CHRISTIAN DIOR- LVMH

Fund manager Patrick Kolb, Marjorie SonigoFund manager since 01/07/2009, 19/06/2006Location Zürich, ParisFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 216.58Inception date 29/05/2007Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.15Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) Global PrestigeClass R USD


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

-42.0

41.250.3

0.8

15.7

CS EF (Lux) Global Prestige R USD Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund -2.96 1.43 15.73 27.49 87.96 36.03

Sectors in %Fund

Consumer Goods 41.51Cosmetics 14.28Beverages and tobacco 12.11Watchmakers 11.43Automobiles 5.53Retail 4.17Leisure and Tourism 3.08Cash/Cash Equivalents 7.89

Currencies in %

EUR 56.05USD 24.76CHF 9.11HKD 6.24GBP 2.06BRL 1.78

In addition to the currency table shown above, for this class,hedging strategies, by means of forward foreign exchangetransactions, are implemented to protect the class currencyagainst currency fluctuations of the fund's reference currency.This may substantially protect investors against a decrease in thevalue of the fund's reference currency relative to the hedgedclass currency, but it may also preclude investors from benefitingfrom an increase in the value of the fund's currency.

Countries in %

France 34.64USA 24.65Italy 12.17Switzerland 7.90Germany 6.82Hong Kong 2.33United Kingdom 1.99Brazil 1.78China 0.42Others 7.31


Investment policyThe aim of the Fund is to achieve the highestpossible capital growth by investing worldwidein companies with business activities in theproduction, distribution and sales of luxury goodsand services (e.g. jewellery, watches, fashion,automobile, cosmetics, spirits and hotels).

Fund facts


Bloomberg ticker CSEFGRU LXNet Asset Value 12.80




52




Credit Suisse Equity Fund (Lux) Global PrestigeClass R USD


Stockmarkets were globally positive in Q3 thanksto central banks decisions. The luxury goodssector followed this positive trend in July andAugust, but was affected in September byBurberry’s publications. If we can notice a growthnormalization in the luxury sector, fundamentalsare still there.

Over the quarter, the best performancecontributors were in the US: VF Corp, Estee

Lauder and Tiffany. Performance detractorswere essentially in Europe, with Burberryaffected by a disappointing announcement of flatorganic Q2 sales and expectations for the wholeyear in the minimum range.

During the quarter, our cash position wasmaintained and we reduced our exposure towatches (Swatch Group in Switzerland). On theother hand, we increased the exposure to more

defensive sub-sectors and reinforced positions inretail (PPR in France) and in consumer goods(Luxottica in Europe and VF Corp in the US). Weremain focused on sub sectors with high visibility:consumer goods, cosmetics and spirits, whichrepresent respectively 41%, 14% and 12% ofthe fund as at the end of Q3. The geographic mixbetween US and Europe was also improved, withthe reinforcement of some stocks (VF Corp andPolo Ralph Lauren).


Despite the macroeconomic malaise, tourismtrends have remained robust throughout 2011.Travel spending by Chinese tourists wasestimated to be USD 70bn last year, makingthem the third-largest travel spenders worldwide.

Apart from Europe, Hong Kong is another majorshopping destination for Chinese outboundtourists due to high import duties and taxes inChina, as well as the unavailability of the latestfashions and the quest for authenticity.

Our optimism for the luxury sector’s long termgrowth prospects remains intact. The currentvaluations still offer upside potential as earningsgrowth remains robust.


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Fund manager Patrick KolbFund manager since 01/03/2007Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 61.33Inception date 19/10/2006Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.18Benchmark (BM) MSCI World (NR)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) Global SecurityClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

15.8

-31.9

26.6

14.2

-2.9

15.59.0

-40.7

30.0

11.8

-5.5

13.0

CS EF (Lux) Global Security B Yearly or year-to-date performance respectively (Fund)MSCI World (NR) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.21 3.93 15.49 25.80 34.27 7.81Benchmark 2.75 6.71 13.01 21.59 24.17 -10.28

Sectors in %Fund

IT security 25.77Health care protection 21.28Environmental security 17.68Transportation safety 16.94Crime prevention 15.14Cash/Cash Equivalents 3.19

Currencies in %

USD 73.56EUR 10.84SEK 6.29GBP 5.43CHF 1.63AUD 1.30JPY 0.94

Countries in %

USA 63.85Sweden 6.47Israel 6.02United Kingdom 5.36Germany 4.89Spain 3.43France 1.83Switzerland 1.57Japan 0.90Others 5.65

Top 10 holdings in %Intertek Group 4.28OSI Systems 3.77GEO Grp. 3.35Axis 3.21Gilead Sciences 3.21Wire Card 2.97Stericycle Inc. 2.92Thermo Fisher Scien 2.89Celgene 2.83Tyco Intern 2.72Total 32.15

Investment policyThe fund assets are invested worldwide inequities of companies that are primarily activein IT, healthcare and industry, and that offerproducts and services relating to health andenvironmental safety, IT security, road safety,and crime prevention.

Fund facts


Bloomberg ticker CSEFGSB LXNet Asset Value 12.97




54




Credit Suisse Equity Fund (Lux) Global SecurityClass B


Global equity markets advanced in Q3 by 6.71%(in USD), despite mixed global macro data andsome cautious company comments. Marketswere heavily supported by policy actions thatreduced the likelihood of a negative tail riskevent, including the ECB’s pledge to buyperipheral debt up to 3-years in maturity, theGerman constitutional court’s ratification of theESM (European Stability Mechanism), and theFed’s announcement of QE3. The general riskappetite increased slightly, the energy, financialsand materials sectors were strong, butinterestingly, other cyclical sectors like industrials

as well as technology underperformed.

The fund underperformed the MSCI Worldbenchmark, although during this time frame nomajor negative news was published within thesecurity & safety sector. As a reminder, thesecurity & safety sectors as a whole can bedescribed as secular in nature. The bestperforming segment was the TransportationSecurity & Safety segment, where OSI Systemsoutperformed the most. The reason was mainlydue to their good quarterly results. On the otherhand, the Environmental Security segment

lagged where Clean Harbors was the worstperformer (the company has been affected bythe lower rig count).

The structure of the fund has not changed inthe last quarter and we feel confident with thecurrent holdings. We made only a minor changein the portfolio – within the Health Protectionarea we initiated a new position in Grifols SA,a worldwide leader in the field of plasmaderivatives.


From a long-term point of view, we remainconstructive for equities. This is likely to be drivento a large extent by central bank policies, as wellas the scarcity of investment opportunities in theface of ultra-low interest rates. Based on ouranalysis, any market setbacks would continue topresent buying opportunities.

The supportive factors cited above are likely toincrease the market multiples going forward, inour opinion. However, despite the positive recent

policy developments, certain risks have to bekept in mind: A potential slowdown in China, apotential fiscal cliff and tax rises in the US andthe still ongoing eurozone crisis are keeping alid on investors’ euphoria. Therefore the weeksahead could see more volatility.

In such an environment, we believe the securityand safety theme remains very attractive forlong-term oriented investors: Technologicalinnovation and the increasing free movement of

goods, capital and people are the long termsecular drivers for products within this area. Thisexplains why the five investment themes stayattractive in the long run. In the short term, wecannot do much about the cyclical nature of themarket. Therefore, we continue to follow abalanced approach in favoring companies whichhave a strong market position, ability to increasemargins as well as to grow earnings.


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Fund manager Patrick KolbFund manager since 01/03/2007Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 61.33Inception date 19/10/2006Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.18Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) Global SecurityClass R CHF


2007 2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%

11.9

-32.5

24.9

12.5

-4.8

14.2

CS EF (Lux) Global Security R CHF Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.11 3.57 14.16 23.38 28.15 -0.26

Sectors in %Fund


Currencies in %



Countries in %




Fund facts

Unit class currency CHF

Bloomberg ticker CSEFGSR LXNet Asset Value 11.61




56




Credit Suisse Equity Fund (Lux) Global SecurityClass R CHF














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Fund manager Patrick KolbFund manager since 01/03/2007Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 61.33Inception date 19/10/2006Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.18Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) Global SecurityClass R EUR


2007 2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%

13.4

-33.1

25.0

13.2

-4.7

14.9

CS EF (Lux) Global Security R EUR Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.07 3.77 14.94 23.82 29.79 0.77

Sectors in %Fund


Currencies in %



Countries in %




Fund facts


Bloomberg ticker CSEFGSE LXNet Asset Value 11.85




58




Credit Suisse Equity Fund (Lux) Global SecurityClass R EUR














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16.619.31

5.084.584.841.84

-14.61-9.32

1.58-19.93

Purchases Sales- KELLER GROUP- NIKKISO- SENECA FOODS a- INVESTOR b- SANEPAR pref

Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 291.13Inception date 08/06/2001Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.17Benchmark (BM) MSCI World (NR)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) Global ValueClass B


2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%46.3

30.1

-13.1

2.2

25.919.5

-2.4

14.0

CS EF (Lux) Global Value B Yearly or year-to-date performance respectively (Fund)MSCI World (NR) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.88 2.54 2.23 5.05 16.64 -Benchmark 0.67 5.25 14.03 26.81 41.07 -

Sectors in %Fund Benchmark Compared with benchmark

Materials 23.46 6.85Industrials 19.96 10.65Consumer Discretionary 15.78 10.70Consumer Staples 15.45 10.87Utilities 8.39 3.55Telecommunication Services 5.95 4.11Financials 4.53 19.14Health Care 1.36 10.68Cash/Cash Equivalents 1.58 -Others 3.53 23.46

Currencies in %

JPY 40.73EUR 19.63USD 13.10BRL 12.13CHF 3.87AUD 2.96GBP 1.91CLP 1.73SEK 1.62Others 2.33

Countries in %

Japan 38.68Italy 15.86Brazil 13.50USA 8.98Switzerland 3.75Australia 2.96United Kingdom 1.84Chile 1.73Canada 1.49Others 11.20

Top 10 holdings in %Fibria Cellulose 1.91Keller Group 1.84Shibuya Kogyo 1.80Madeco S.A. 1.73OI 1.70Taisei Lamick 1.68Mikuni Coca-Cola 1.64Telecom Italia risp 1.64Hera 1.62JBS 1.59Total 17.15


Investment policyThe Credit Suisse Equity Fund (Lux) GlobalValue pursues a "deep value" approach based onthe classic Graham & Dodd discipline. To thisend the fund invests in undervalued companieswhich are listed worldwide on regulated andaccessible markets. The investment decisionsare not made on the basis of a benchmark;nevertheless, investors can use the MSCI WorldIndex as a long-term yardstick. The valueapproach can deliver above-average results overa long period because it disciplines investors notto pay too much for an investment.

Repositioning as per April 30, 2008. (Old Fundname: Credit Suisse Equity Fund (Lux) World)

Fund facts


Bloomberg ticker CSEFSIE LXNet Asset Value 6.87


Annualized volatility in % 10.41 12.39Tracking Error (Ex post) 7.31 6.76Beta 0.93 0.95


60




Credit Suisse Equity Fund (Lux) Global ValueClass B


Performance: Net asset value (I-shares) rose by2.73% in Q3 2012 and 2.98% year-to-date,respectively. Since April 30, 2008, when theFund became responsibility of the Value Team, ithas compounded at an annual net return rate of5.02%.

Transactions: During the reporting period we soldthe Fund’s position in Japanese plant engineerChiyoda Corp., as its price was approaching our

conservative estimate of intrinsic value. Itgenerated a holding period return of more than7.5% p.a. in local currency (or more than 20%p.a. in base currency) terms. On the other handwe purchased units in a diversified deep valueportfolio of Japanese equities. The cash balanceremains low at less than 1% of AuM.

Corporate actions / mergers and acquisitions:There were no major events affecting our

portfolio companies.

Commentary: There were no noteworthy issueswhich may have caused an alteration in portfoliostrategy (see outlook section below) or structurein Q3 2012. For more topics and issues, pleaseconsult the separate quarterly commentary onthe global strategy.


The medium-to long-term strategy (5-10 years)followed by the Fund places its emphasis on fourmain investment situations:

First, we select companies in industries whosemargins get temporarily squeezed by rising inputcosts (chemicals, packaging and foodprocessors, among others). With a time lag, theshrewd competitors in this space typically findways to apply stringent cost control and/or adjustpricing to a level that will restore, or at leastapproach, historic margins.

Second, we select companies experiencingcyclical weakness triggered by the

macroeconomic slowdown (e.g., machinery,engineering and commercial services). For theinvestor who is willing to look patiently over thecourse of an entire cycle, as we are, somebusinesses now appear too cheap given theirentrenched market positions and healthy balancesheets.

Third, we select companies in industries facingstructural issues that require a fundamentaltransformation in strategy and execution (e.g.,traditional media, advertising services, basicmaterials, certain utility services). Here, themarket now and then tends to over-discount thevalue of legacy-burdened incumbents while

placing heavy bets on newcomers with a cleanslate. Taking history as a guide, sometimes itturns out that late-movers with deep pocketsmay in the end prevail against an aggressive newentrant.

Last but not least, at these prices we also likeselect owners of land (forestry, agriculture, realestate). These equities have sold off due to theslump in global real estate finance. However,we believe that their long-term benefits asinflation-protected assets far outweigh thoseshorter-term concerns.

Portfolio managementGregor P. Trachsel, Managing Director, is in charge of Value Investments within the Global Equity Team in Zurich. He joined Credit Suissein 2008 from M.M. Warburg Bank (Switzerland) Ltd. Zurich, where he was investment manager for value-based equity portfolios. Prior tothat, he held several positions in the Banking industry as investment manager and buy-side analyst. He holds an MBA from the ColumbiaUniversity Graduate School of Business, New York, in Accounting (Security Analysis) and Finance (Money Management).

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16.619.31

5.084.584.841.84

-14.61-9.32

1.58-19.93


Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 291.13Inception date 16/01/2007Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.15Benchmark (BM) MSCI World (NR)Unit Class Category I (capital

growth)




Credit Suisse Equity Fund (Lux) Global ValueClass I EUR


2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%47.9

31.5

-12.2

3.0

25.919.5

-2.4

14.0

CS EF (Lux) Global Value I Yearly or year-to-date performance respectively (Fund)MSCI World (NR) Yearly or year-to-date performance respectively (Benchmark)




Materials 23.46 6.85Industrials 19.96 10.65Consumer Discretionary 15.78 10.70Consumer Staples 15.45 10.87Utilities 8.39 3.55Telecommunication Services 5.95 4.11Financials 4.53 19.14Health Care 1.36 10.68Cash/Cash Equivalents 1.58 -Others 3.53 23.46

Currencies in %


Countries in %






Fund facts


Bloomberg ticker CSEFLEI LXNet Asset Value 1,036.13




62




Credit Suisse Equity Fund (Lux) Global ValueClass I EUR

















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Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 291.13Inception date 18/10/2006Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.12Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) Global ValueClass R CHF


2008 2009 2010 2011 201260

80

100

120

140

160

-40%

-20%

0%

20%

40%

60%45.0

28.7

-14.5

1.6

CS EF (Lux) Global Value R CHF Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.76 2.30 1.63 4.12 12.80 -

Sectors in %Fund

Materials 23.46Industrials 19.96Consumer Discretionary 15.78Consumer Staples 15.45Utilities 8.39Telecommunication Services 5.95Financials 4.53Health Care 1.36Cash/Cash Equivalents 1.58Others 3.53

Currencies in %



Countries in %






Fund facts


Bloomberg ticker CSEFWRC LXNet Asset Value 9.34




64




Credit Suisse Equity Fund (Lux) Global ValueClass R CHF

















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(capital growth)




Credit Suisse Equity Fund (Lux) Global ValueClass R CZK

Net performance in CZK (rebased to 100) and yearly performance 1)

2009 2010 2011 201280

90

100

110

120

130

140

150

-20%

-10%

0%

10%

20%

30%

40%

50%

30.5

-13.6

2.3

CS EF (Lux) Global Value R CZK Yearly or year-to-date performance respectively (Fund)

Net performance in CZK 1)

1 month 3 months YTD 1 year 3 years 5 yearsFund 0.84 2.48 2.28 4.98 - -

Sectors in %Fund


Currencies in %



Countries in %






Fund facts

Unit class currency CZK

Bloomberg ticker CSEGVRC LXNet Asset Value 1,226.94


Annualized volatility in % 10.22 -Tracking Error (Ex post) 10.34 -Beta 0.48 -


66




Credit Suisse Equity Fund (Lux) Global ValueClass R CZK

















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(capital growth)




Credit Suisse Equity Fund (Lux) Global ValueClass R USD


2008 2009 2010 2011 201260

80

100

120

140

160

-40%

-20%

0%

20%

40%

60%45.9

30.2

-13.7

2.4

CS EF (Lux) Global Value R USD Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund


Currencies in %



Countries in %






Fund facts


Bloomberg ticker CSEFWRU LXNet Asset Value 9.98




68




Credit Suisse Equity Fund (Lux) Global ValueClass R USD

















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Purchases SalesUNICREDIT LUXOTTICAMEDIOLANUM EXORENEL BUZZI UNICEMFIAT INDUSTRIAL ENI- SNAM

Fund manager Stefano AndreaniFund manager since 14/01/2008Location MilanFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 36.88Inception date 19/10/2007Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 0.93Benchmark (BM) MSCI Italy 10/40 (NR) (07/11)Unit Class Category I (capital

growth)




Credit Suisse Equity Fund (Lux) ItalyClass I


2007 2008 2009 2010 2011 201220

40

60

80

100

120

140

-80%

-60%

-40%

-20%

0%

20%

40%

-43.9

24.7

-4.0

-21.9

8.4

-47.4

22.6

-9.1

-25.4

6.2

CS EF (Lux) Italy I Yearly or year-to-date performance respectively (Fund)MSCI Italy 10/40 (NR) (07/11) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.04 8.00 8.36 10.72 -19.22 -Benchmark 0.83 7.99 6.16 6.29 -28.58 -

Sectors in %Fund

Financials 37.87Industrials 16.98Utilities 14.95Energy 11.51Consumer Discretionary 11.03Telecommunication Services 4.26Health Care 1.20Consumer Staples 0.65Information Technology 0.46Cash/Cash Equivalents 1.11




Investment policyThe aim of the Fund is to achieve the highestpossible capital growth by investing in leadingItalian companies characterised by highprofitability, a sound financial structure andsuccessful management.

Fund facts


Bloomberg ticker CRSITLI LXNet Asset Value 543.79


70




Credit Suisse Equity Fund (Lux) ItalyClass I


In Q3 the market continued to be driven mainlyby top down considerations. In such a context,the markets welcomed as an unexpected presentDraghi’s statement on July 26th. The governorof the ECB said that the central bank was readyto do “whatever it takes” to save the euro. Asa consequence, we saw strong performancesboth at the end of July and in August as mostinvestors decided to seize the opportunity to gorisk-on. In September performances weregenerally flat also because of many profit takingattempts after the gains of the previous month.

Draghi announced the launch of the OMTprogram and the German Constitutional Court

ruled as legal the European Stability Mechanism(ESM) and the European fiscal treaty. On theother hand, the global economy was stillsluggish: eurozone Q2 GDP shrank 0.2% q-o-q,the eurozone manufacturing PMI dropped againin August to 45.1 and Moody’s downgraded theEU economic outlook. In the US Bernankeannounced QE3 on September 13th and thiswas followed by a slowdown in the pace of equitymarkets.

The Italian equity market reflected the countrybelonging to the periphery exaggerating thetrends in both directions throughout the quarter:underperformer in July, outperformer in August

and flat in September. Despite the quitedisappointing Q2 reporting season, the overallperformance of the market in Q3 was around5%. By sectors, the top performers werefinancials, which benefited from the narrowingof the Italian government bonds’ yield, andcyclicals.

The performance of the fund was positive witha return of about 8% – this was in line withits benchmark. The fund was helped by anincreased exposure to financials during the surgeof August, which was turned into a more neutralallocation when the market flattened.


The global economy is expected to remain belowits long-term potential rate in the coming months.Industrialized countries are constrained by tightfiscal policies and central banks are forced totake an even more prominent role. The OutrightMonetary Transaction (OMT) program and thethird round of Quantitative Easing (QE) will allowboth the ECB and the Fed to buy a potentiallyunlimited amount of bonds.

In terms of the situation in Italy, we think that itwill depend on the evolvement of some top down

dynamics: 1) the pressure on Spain to ask for abail-out; 2) the domestic political developmentswith new elections coming next spring. Italianpolitics remain an area of concern as Monti isscheduled to step down and observers deemmany politician as not reliable in such a delicatemoment for the country; 3) The Q3 reportingseason, with analysts more bearish than theywere before Q2 and expecting a tendencytowards downwards revisions.

Since the Italian economy will keep on suffering

as a consequence of the wider situation inEuropean and the rigid fiscal policy of Monti’sgovernment, we continue to be skepticalregarding purely domestic focused stocks sincethey are the most exposed to the economy of thecountry. According to this view, we selectivelyapproach domestic names with a solid valuationsupport and a relatively low earnings’ risk. On theother hand, we favor companies which operatein niches, protected by high entry barriers or withan export oriented business and solid execution.

Portfolio managementStefano Andreani, CFA, joined Credit Suisse Group in January 2008 in MACS Milan as Italian Equities Manager for mutual funds andEuropean Equities Portfolio Manager for Institutional Clients portfolios. From May 2003 to January 2007 he worked at Eurizon Capital(Sanpaolo AM), initially on an internship, but from February 2004 as Assistant Portfolio Manager on balanced portfolios for institutionalclients. In March 2005, he assumed direct responsibility for managing Italian and European equities. Mr. Andreani graduated in Institutionsand Financial Markets (CLEFIN) from the Università Commerciale Luigi Bocconi in April 2003.

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71

25.5415.33

13.5911.1811.16

7.466.12

4.650.77

4.21

Purchases SalesALTRAN TECHNOLOGIES ERSTE GROUP BANKD S SMITH GETINGE INDUSTRIER fria bCAPITAL & COUNTIES PROPERTIES

SALVATORE FERRAGAMOBODYCOTE ILIADGLANBIA MARINE HARVEST

Fund manager Jan BergFund manager since 21/02/2007Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 65.38Inception date 28/01/1994Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.16Benchmark (BM)

MSCI Europe Small Cap (NR) (09/06)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) Small and Mid Cap EuropeClass B


2007 2008 2009 2010 2011 201220406080

100120140160180

-80%-60%-40%-20%

0%20%40%60%80%

-1.2

-46.5

43.135.6

-18.6

12.9

-7.5

-51.9

59.5

29.9

-17.4

20.5

CS EF (Lux) Small and Mid Cap Europe B Yearly or year-to-date performance respectively (Fund)MSCI Europe Small Cap (NR) (09/06) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.66 6.60 12.92 20.43 26.93 -10.04Benchmark 3.23 9.43 20.45 25.01 32.05 -7.97


Industrials 25.54 -Consumer Discretionary 15.33 -Financials 13.59 -Information Technology 11.18 -Materials 11.16 -Energy 7.46 -Consumer Staples 6.12 -Health Care 4.65 -Cash/Cash Equivalents 0.77 -Others 4.21 0.00

Currencies in %

EUR 41.68GBP 31.60NOK 13.19CHF 6.18DKK 4.06SEK 3.30

Countries in %

United Kingdom 35.93Germany 14.29France 9.36Norway 8.84Switzerland 6.77Austria 4.24Italy 3.66Ireland 3.64Denmark 3.20Others 10.08

Top 10 holdings in %Great Portland 1.80Babcock Intl. 1.77EVN 1.77Flughafen Zürich 1.77Lanxess 1.72Acergy 1.70Sky Deutschland AG 1.69Berkeley Group 1.66Atos Origin S.A. 1.65Telecity Group 1.60Total 17.13


Investment policyThe aim of the Fund is to achieve the highestcapital growth possible. The Fund invests at leasttwo-thirds of its assets in small andmedium-sized European companies with amarket capitalization of EUR 5 billion or less. Theinvestment region Europe includes all EU andEFTA countries.

Fund facts


Bloomberg ticker CRSESEI LXNet Asset Value 1,380.93




72




Credit Suisse Equity Fund (Lux) Small and Mid Cap EuropeClass B


In Q3 2012 European equities reported stronggains and the MSCI Europe Small Cap Indexrose 9.43%. The quarter was dominated bycentral bank activity around the world as anumber of monetary stimulus programs wereannounced to counter the weakening economicrecovery. In Europe, the ECB introduced anunlimited bond plan to manage the credit spreadsof peripheral European countries and to fight therisk of a break-up of the euro area. The surgein liquidity supported equities despite the majorityof economic indicators continuing to point to thedownside.

The economic difficulties of Europe’s peripheralcountries are negatively affecting NorthernEurope’s economic prospects. In addition,Germany, as Europe’s most healthy economicengine, is facing a decelerating manufacturingsector, decreasing industrial production, ordersat low levels and weak business indicators (PMI,Ifo).

The fund was up 6.6% in Q3. Performancecontributors were the overweights in oilfieldservices provider Subsea 7 (+12.89%) andinternet infrastructure designer Telecity(+10.34%). Subsea reported above consensus

Q2 results, driven by strong contributions fromprojects in the last offshore phases in WestAfrica. Telecity continues to benefit fromirresistible revenue growth, as confirmed by firsthalf results. The worst contributors toperformance were the underweight in advertisingagency Aegis (+44.46%) and the overweightin recycle containers manufacturer Tomra(+0.50%). Aegis’ stock surged ahead ofJapanese advertising group Dentsu’sannouncement to buy Aegis. Tomra reported Q2earnings slightly below expectations and thestock ended the month flat.


A slowdown in economic growth is emergingglobally, with the recovery path in the US and inemerging markets showing signs of weakness.Export-oriented core European companies –especially in Germany – are facing lower demandand a worsened market environment. Centralbanks around the world have demonstrated theircommitment in acting decisively against aneconomic stalemate by providing extensive

monetary stimulus programs. It remains to beassessed whether these programs, coupled withrecord-low interest rates, will be enough torestore confidence in Europe’s strugglingperipheral economies and to revitalize the globaleconomy.

Therefore, policy makers in the eurozone arecalled to maintain efforts to restore sound fiscal

positions and to implement the necessarystructural reforms to improve the preconditionsfor economic growth. For the short-term, webelieve that the ECB’s bond buying plan actslike a game changer removing fat tail risk fromthe markets. With equities trading on rather lowvaluation multiples, the outlook for continuedpositive performance remains intact.

Portfolio managementJan Berg, Director, is a portfolio manager within the Equity Team. Jan joined the CS Small&Mid Cap Team in August 2006. Prior to this,he held a position in equity syndication and equity capital markets for four years with Dresdner Kleinwort, where he worked on numeroussmall- and mid-cap IPOs in Germany as well as several major capital market transactions. He continued developing his market expertise atDeutsche Bank Institutional Equities, where he focused on small- and mid-cap company analysis and marketing in Europe. He wasresponsible for the franchise with small cap investors, in particular mutual funds and insurance groups. Jan Berg graduated from theUniversity of Saarbrücken with an MSc in Economics and received CEFA certification in 2001.

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Purchases SalesMAN LANXESSMETRO CONTINENTALHUGO BOSS reg EADSEADS DEUTSCHE WOHNEN regBRENNTAG reg TUI reg

Fund manager Felix MeierFund manager since 01/01/2003Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 238.11Inception date 26/08/1994Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.16Benchmark (BM) Midcap Market Index (RI) (07/08)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) Small and Mid Cap GermanyClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

-3.2

-44.4

46.6

29.8

-15.3

22.2

1.6

-47.1

38.826.9

-13.9

22.1

CS EF (Lux) Small and Mid Cap Germany B Yearly or year-to-date performance respectively (Fund)Midcap Market Index (RI) (07/08) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.55 6.47 22.15 28.58 39.36 -3.46Benchmark -0.43 6.25 22.15 29.66 37.67 -9.90

Sectors in %Fund

Industrials 34.78Consumer Discretionary 21.36Information Technology 12.83Health Care 10.51Financials 7.91Materials 7.79Consumer Staples 3.45Telecommunication Services 0.83Cash/Cash Equivalents 0.02Others 0.52

Currencies in %

EUR 99.98CHF 0.02

Countries in %

Germany 91.66France 8.32Others 0.02


Investment policyThe aim of the Fund is to achieve the highestpossible capital growth. Investment focus is onsmall and mid-sized companies domiciled inGermany. Small and mid sized companies arecompanies not being part of the DAX 30 Index.

Fund facts


Bloomberg ticker CRSESGI LXNet Asset Value 1,166.50




74




Credit Suisse Equity Fund (Lux) Small and Mid Cap GermanyClass B


In Q3 2012 German equities reported stronggains and the Midcap Index was up 6.25%. Thequarter was dominated by central bank activityaround the world as a number of monetarystimulus programs were announced to counterthe weakening economic recovery. In Europe theECB introduced an unlimited bond plan tomanage the credit spreads of peripheralEuropean countries and to fight the risk of abreak-up of the euro area. The surge in liquiditysupported equities despite the majority ofeconomic indicators continuing to point to thedownside.

In Germany, the manufacturing sector is

decelerating as exports to eurozone countriesare declining significantly. A decreasing industrialproduction, orders on low levels and weakbusiness indicators (PMI, Ifo) suggest that theeconomic difficulties of the European peripheralcountries are negatively affecting Germany’sshort-term economic prospects.

The fund was up 6.47% in Q3, helped by ouroverweights in the biotechnology companyMorphosys (+36.32%) and travel agent Tui(+42.24%). Morphosys benefited strongly fromthe announcement that one of their antibodies(MOR103) demonstrated excellent safety andefficacy in rheumatoid arthritis patients,

confirming the value potential of its antibodypipeline. Tui reported strong Q3 results aheadof consensus by increasing average travel pricesdespite weak macro conditions.

Performance detractors included our overweightin microelectronic equipment manufacturerSuess Microtec (-17.62%) and our underweightin cable operator Kabel Deutschland (+13.00%).Suess reported weak Q2 figures as increasinglycautious clients hit sales and profitability, whileKabel Deutschland continues to benefit from arobust momentum in revenue growth and marginexpansion.


Driven by a weak euro, the export orientedGerman economy outperformed its euro areaneighbors and demonstrated an impressiveresilience withstanding the woes of the Europeansovereign debt crisis. However, as the recentrelease of economic data suggests, demandfrom the eurozone as the most important exportmarket for Germany is sharply decreasing.

The slowdown in economic activity globally isexpected to put further pressure on Europe’slargest economy. The recovery path in the USand in the emerging markets continues to beweak. Central banks around the world havedemonstrated their commitment in actingdecisively against an economic stalemate byproviding extensive monetary stimulus programs.It remains to be assessed whether these

programs, coupled with record-low interest rates,will be enough to restore confidence in Europe’sstruggling peripheral economies and to revitalizethe global economy. We believe that the ECB’sbond buying plan acts like a game changer,removing fat tail risk from the markets. Withequities trading on rather low valuation multiples,the outlook for a continued positive performanceremains intact.

Portfolio managementAfter completing his studies in business management at the University of St. Gallen in June 1998, Felix Meier attended the GraduateTrainee Programme of Zurich Financial Services in Zürich Invest Bank and Group Investments. In October 1999, he joined the EuropeanEquity team, in which he was responsible for active equity mandates. Since 2001 he has specialised in German Small Caps. From June toAugust 2002 he worked for CSAM New York as a Small Cap Analyst. Having qualified as a Chartered Financial Analyst (CFA), Felix Meieris a member of the Association of Investment Management and Research (AIMR) and of the Swiss Society of Investment Professionals(SSIP).

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Purchases SalesMAN LANXESSMETRO CONTINENTALHUGO BOSS reg EADSEADS DEUTSCHE WOHNEN regBRENNTAG reg TUI reg

Fund manager Felix MeierFund manager since 01/01/2003Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 238.11Inception date 29/08/2005Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.14Benchmark (BM) Midcap Market Index (RI) (07/08)Unit Class Category I (capital

growth)




Credit Suisse Equity Fund (Lux) Small and Mid Cap GermanyClass I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

-2.2

-43.7

48.0

31.2

-14.5

23.1

1.6

-47.1

38.826.9

-13.9

22.1

CS EF (Lux) Small and Mid Cap Germany I Yearly or year-to-date performance respectively (Fund)Midcap Market Index (RI) (07/08) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.63 6.74 23.12 29.92 43.72 1.69Benchmark -0.43 6.25 22.15 29.66 37.67 -9.90

Sectors in %Fund

Industrials 34.78Consumer Discretionary 21.36Information Technology 12.83Health Care 10.51Financials 7.91Materials 7.79Consumer Staples 3.45Telecommunication Services 0.83Cash/Cash Equivalents 0.02Others 0.52

Currencies in %

EUR 99.98CHF 0.02

Countries in %

Germany 91.66France 8.32Others 0.02


Investment policyThe aim of the Fund is to achieve the highestpossible capital growth. Investment focus is onsmall and mid-sized companies domiciled inGermany. Small and mid sized companies arecompanies not being part of the DAX 30 Index.

Fund facts


Bloomberg ticker CSEFSCI LXNet Asset Value 1,453.87




76




Credit Suisse Equity Fund (Lux) Small and Mid Cap GermanyClass I


In Q3 2012 German equities reported stronggains and the Midcap Index was up 6.25%. Thequarter was dominated by central bank activityaround the world as a number of monetarystimulus programs were announced to counterthe weakening economic recovery. In Europe theECB introduced an unlimited bond plan tomanage the credit spreads of peripheralEuropean countries and to fight the risk of abreak-up of the euro area. The surge in liquiditysupported equities despite the majority ofeconomic indicators continuing to point to thedownside.

In Germany, the manufacturing sector is

decelerating as exports to eurozone countriesare declining significantly. A decreasing industrialproduction, orders on low levels and weakbusiness indicators (PMI, Ifo) suggest that theeconomic difficulties of the European peripheralcountries are negatively affecting Germany’sshort-term economic prospects.

The fund was up 6.47% in Q3, helped by ouroverweights in the biotechnology companyMorphosys (+36.32%) and travel agent Tui(+42.24%). Morphosys benefited strongly fromthe announcement that one of their antibodies(MOR103) demonstrated excellent safety andefficacy in rheumatoid arthritis patients,

confirming the value potential of its antibodypipeline. Tui reported strong Q3 results aheadof consensus by increasing average travel pricesdespite weak macro conditions.

Performance detractors included our overweightin microelectronic equipment manufacturerSuess Microtec (-17.62%) and our underweightin cable operator Kabel Deutschland (+13.00%).Suess reported weak Q2 figures as increasinglycautious clients hit sales and profitability, whileKabel Deutschland continues to benefit from arobust momentum in revenue growth and marginexpansion.


Driven by a weak euro, the export orientedGerman economy outperformed its euro areaneighbors and demonstrated an impressiveresilience withstanding the woes of the Europeansovereign debt crisis. However, as the recentrelease of economic data suggests, demandfrom the eurozone as the most important exportmarket for Germany is sharply decreasing.

The slowdown in economic activity globally isexpected to put further pressure on Europe’slargest economy. The recovery path in the USand in the emerging markets continues to beweak. Central banks around the world havedemonstrated their commitment in actingdecisively against an economic stalemate byproviding extensive monetary stimulus programs.It remains to be assessed whether these

programs, coupled with record-low interest rates,will be enough to restore confidence in Europe’sstruggling peripheral economies and to revitalizethe global economy. We believe that the ECB’sbond buying plan acts like a game changer,removing fat tail risk from the markets. Withequities trading on rather low valuation multiples,the outlook for a continued positive performanceremains intact.

Portfolio managementAfter completing his studies in business management at the University of St. Gallen in June 1998, Felix Meier attended the GraduateTrainee Programme of Zurich Financial Services in Zürich Invest Bank and Group Investments. In October 1999, he joined the EuropeanEquity team, in which he was responsible for active equity mandates. Since 2001 he has specialised in German Small Caps. From June toAugust 2002 he worked for CSAM New York as a Small Cap Analyst. Having qualified as a Chartered Financial Analyst (CFA), Felix Meieris a member of the Association of Investment Management and Research (AIMR) and of the Swiss Society of Investment Professionals(SSIP).

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Purchases SalesDISCOVER FINANCIAL SERVICES wi

DISCOVER FINANCIAL SERVICES wiCORRECTIONS CORPORATION

PHILIP MORRIS INTERNATIONALSPDR S&P METALS & MINING ETF HALLIBURTONFORTUNE BRANDS HOME & SECURITY

PRECISION CASTPARTSINTEL KRAFT FOODS a

Fund manager Marcello MusioFund manager since 01/08/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 612.91Inception date 07/06/1991Management fee in % p.a. 1.25Total expense ratio (ex ante) in % 1.51Benchmark (BM) MSCI USA (NR) (01/10)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) USAClass B


2007 2008 2009 2010 2011 20125060708090

100110120130140

-50%-40%-30%-20%-10%

0%10%20%30%40%

6.5

-37.3

28.0

9.0

-3.4

14.5

4.9

-37.4

25.6

14.8

1.4

15.8

CS EF (Lux) USA B Yearly or year-to-date performance respectively (Fund)MSCI USA (NR) (01/10) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.24 5.94 14.46 27.68 28.98 -5.19Benchmark 2.50 6.21 15.84 29.19 42.67 2.15

Sectors in %Fund

Information Technology 21.38Financials 15.02Consumer Discretionary 12.32Health Care 11.50Energy 10.96Industrials 8.79Consumer Staples 8.01Materials 3.37Cash/Cash Equivalents 0.92Others 7.72




Investment policyThe aim of the Fund is to achieve the highestpossible capital growth by investing in leadingUS companies characterised by high profitability,a sound financial structure and successfulmanagement.

Fund facts


Bloomberg ticker CRSNABI LXNet Asset Value 743.74


78




Credit Suisse Equity Fund (Lux) USAClass B


Q3 2012 was remarkably calm, driven more bymonetary policy as opposed to individualcompany fundamentals or macroeconomic data.The ECB kicked off the wave of optimism bysaying in July that it was willing to do whateverit takes to keep the eurozone together. The Fedfollowed, announcing plans to buy USD 40bnof mortgage-backed securities a month until theemployment situation looks reasonable andextended its commitment to keeping interestrates at very low levels until the middle of 2015.

For the third quarter, the MSCI US returned+6.21%. Energy stocks performed best

returning 9.9%, as crude oil prices increasednearly 9% in the quarter. With consumerspending and the housing market recovering,consumer discretionary stocks appreciated8.1%. Utilities lagged the market declining0.4%, as forward power prices in most of theEastern US regions have retreated 5% to 10%.With weakening industrial production growth, theindustrial sector struggled in the quarter returning3.8%.

The fund underperformed slightly its benchmarkby 0.27%, returning 5.94%. Fund performancewas negatively affected by the underweight in

consumer discretionary and the stock selectionin materials and industrials. Stock positioning inconsumer discretionary, information technologyand financials were the most significantcontributor to relative performance.

At the level of individual holdings, GileadSciences contributed most to performance, asthe firm’s HIV franchise continues to grow anddrives impressive profitability, and perspectivesfor Hepatitis C evolve further. IHS was theprimary detractor from relative performance, asthe stock plunged over 20% after missing Q3expectations and cutting Q4 guidance.


We continue to believe that the US economy willexperience relatively steady but slow economicgrowth. The strength in the housing recovery hasbeen building for most of 2012 and we thinkit will continue in 2013. We continue to believethat an improving US housing market will drive upeconomic activity next year and can help supportconsumer confidence and consumer spending.However, the equity market could fluctuatearound current levels during the next few monthsas investors await the outcome of the USelection and the upcoming potential fiscal cliff.We think the risk of European sovereign defaultis no longer imminent. However, the economic

outlook for the region remains weak, andlong-term solvency issues remain.

Our portfolio is positioned for a modest economicrecovery and we continue to invest in companieslevered to specific market opportunities that arecapable, in our view, of maintaining their strongcompetitive positions. We have increased ourexposure to companies exposed to the housingrecovery like homebuilders and building products,as we believe these sectors are still in an earlyphase of a recovery.

From a sector perspective, we are overweight

information technology and favor high-qualitynames like Apple, Oracle and Qualcomm. Wecontinue to remain overweight financials wherewe favor consumer finance stocks, regionalbanks and asset managers over large moneycenter bank, insurance and investment banks.We increased the weight in consumerdiscretionary, as the sector should benefit fromeasing lending standards, housing recovery,improving employment and positive realdisposable income growth. We continue toremain underweight lower beta sectors liketelecoms and consumer staples as we find bettergrowth opportunities elsewhere.

Portfolio managementMarcello Musio, Director, is responsible for U.S. financials and industrials in the Equity team. Mr. Musio joined Credit Suisse Asset Management in Zurichin 2009 as a Senior Portfolio Manager. Prior to that, Mr. Musio worked for 10 years at Zurich Cantonal Bank and was Head of Equities in the AssetManagement Department. Marcello Musio holds a degree in Business Administration from University of Zurich and has more than 12 years of experiencein Portfolio Management. He is a CFA charterholder.

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Fund manager Marcello MusioFund manager since 01/08/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 612.91Inception date 14/04/2000Management fee in % p.a. 0.65Total expense ratio (ex ante) in % 0.91Benchmark (BM) MSCI USA (NR) (01/10)Unit Class Category I (capital

growth)




Credit Suisse Equity Fund (Lux) USAClass I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

7.1

-37.0

28.8

9.7

-2.8

15.04.9

-37.4

25.6

14.8

1.4

15.8

CS EF (Lux) USA I Yearly or year-to-date performance respectively (Fund)MSCI USA (NR) (01/10) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.29 6.10 14.97 28.45 31.32 -2.34Benchmark 2.50 6.21 15.84 29.19 42.67 2.15

Sectors in %Fund






Fund facts


Bloomberg ticker CRSNAII LXNet Asset Value 1,044.52


80




Credit Suisse Equity Fund (Lux) USAClass I















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Fund manager Marcello MusioFund manager since 01/08/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 612.91Inception date 31/05/2002Management fee in % p.a. 1.25Total expense ratio (ex ante) in % 1.51Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) USAClass R EUR


2007 2008 2009 2010 2011 20125060708090

100110120130140

-50%-40%-30%-20%-10%

0%10%20%30%40%

4.9

-38.3

25.9

7.5

-5.1

14.0

CS EF (Lux) USA R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund






Fund facts


Bloomberg ticker CRSNAHI LXNet Asset Value 10.11


82




Credit Suisse Equity Fund (Lux) USAClass R EUR















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Purchases Sales- NEW YORK TIMES a- GANNETT- UNIVERSAL- THE ST JOE COMPANY- BRIGGS & STRATTON

Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 111.83Inception date 30/03/2004Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.11Benchmark (BM) MSCI USA (NR) (09/11)Unit Class Category B

(capital growth)




Credit Suisse Equity Fund (Lux) USA ValueClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

180

-60%

-40%

-20%

0%

20%

40%

60%

80%

1.0

-43.5

56.2

15.2

-6.5

14.9

-0.2

-36.8

28.316.9

1.1

15.8

CS EF (Lux) USA Value B Yearly or year-to-date performance respectively (Fund)MSCI USA (NR) (09/11) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %Fund

Industrials 22.48Consumer Discretionary 18.18Materials 16.74Consumer Staples 14.38Financials 11.72Utilities 7.67Information Technology 4.50Energy 2.51Health Care 1.81Cash/Cash Equivalents 0.01

Currencies in %

USD 87.62BRL 4.20GBP 4.00JPY 2.54MXN 1.63

Countries in %

USA 83.48United Kingdom 6.09Brazil 4.20Japan 2.54Italy 2.04Mexico 1.63Others 0.01

Top 10 holdings in %Keller Group 4.00Alico 3.63Seneca Foods 3.34Northwest Pipe 3.19Federal Signal 2.97Tejon Ranch 2.95Donnelley & Sons 2.84New York Times 2.84Sealed Air Corp 2.76SJW 2.72Total 31.24


Investment policyThe Credit Suisse Equity Fund (Lux) USA Valuepursues a "deep value" approach based on theclassic Graham & Dodd discipline. To this endthe fund invests in undervalued companies whichare domiciled or conduct a majority of theirbusiness activities in the USA. The investmentdecisions are not made on the basis of abenchmark; nevertheless, investors can use theMSCI USA (NR) Index as a long-term yardstick.The value approach can deliver above-averageresults over a long period because it disciplinesinvestors not to pay too much for an investment.

Fund facts


Bloomberg ticker CSEUSVB LXNet Asset Value 14.93




84




Credit Suisse Equity Fund (Lux) USA ValueClass B


Performance: Net asset value (I-shares) rose by5.27% in Q3 2012 and 15.83% year-to-date,respectively. Since the Fund becameresponsibility of the Value Team on April 30,2008, it has compounded at an annual net returnrate of 4.76%.

Transactions: We sold six positions where ourestimated margin of safety was narrowingconsiderably due to strong price appreciation.We furthermore eliminated a position due to anM&A situation (see below).

Corporate actions / mergers and acquisitions:Three noteworthy events occurred during thereporting period. First, our long term holdingAlexander & Baldwin Inc., completed its split-upinto two independent, publicly traded concerns,one being Alexander & Baldwin (agriculture andreal estate) and the other Matson Inc. (marinetransportation and logistics). We decided to holdonto Alexander & Baldwin and to sell Matson.Second, our portfolio company Wellpoint, Inc.,launched an all-cash USD 92 friendly takeoverbid for 100% of the shares of Amerigroup Corp.(HMO). The deal is expected to close by Q1

2013. And finally, Dean Foods Co. proposedan IPO for 20% of the shares in itsWhitewave-Alpro subsidiary (mostly organic andsoy milk) as well as an outright sale of itsMorningstar unit (mostly creamers, ice creamand cottage cheese).






macroeconomic slowdown (e.g., machinery,engineering and commercial services). For theinvestor who is willing to look patiently over thecourse of an entire cycle, as we are, somebusinesses appear too cheap given theirentrenched market positions and healthy balancesheets.





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85


Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 111.83Inception date 19/10/2007Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.09Benchmark (BM) MSCI USA (NR) (09/11)Unit Class Category I (capital

growth)




Credit Suisse Equity Fund (Lux) USA ValueClass I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

180

-60%

-40%

-20%

0%

20%

40%

60%

80%

-42.9

57.9

16.3

-5.5

15.8

-36.8

28.316.9

1.1

15.8

CS EF (Lux) USA Value I Yearly or year-to-date performance respectively (Fund)MSCI USA (NR) (09/11) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %Fund


Currencies in %


Countries in %





Fund facts


Bloomberg ticker CSELUVI LXNet Asset Value 1,117.66




86




Credit Suisse Equity Fund (Lux) USA ValueClass I
















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87


Fund manager Gregor TrachselFund manager since 30/04/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 111.83Inception date 27/06/2011Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.06Unit Class Category R - hedged

(capital growth)




Credit Suisse Equity Fund (Lux) USA ValueClass R EUR


2011 201280859095

100105110115120

-20%-15%-10%-5%0%5%

10%15%20%

14.3

CS EF (Lux) USA Value R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund


Currencies in %



Countries in %





Fund facts


Bloomberg ticker CSUSAER LXNet Asset Value 10.37


Annualized volatility in % 19.85 -Tracking Error (Ex post) - -Beta - -


88




Credit Suisse Equity Fund (Lux) USA ValueClass R EUR
















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89

Fund managerCredit Suisse AG, Index Solutions Team

Location ZurichFund domicile LuxembourgFund currency EURUcits III-CompliantClose of financial year 31. MayTotal net assets (in millions) 272.50Inception date 23/10/2002Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.49Reference Index MSCI EMU Large Cap (NR) (10/07)Reference Index Bloomberg Ticker MLCLEMUNUnit Class Category A

(capital growth)


Income treatment AccumulationEU taxation In scope - no tax

Fund 114


CS ETF (Lux) on MSCI EMU Large CapClass A


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

9.7

-44.0

26.9

0.5

-13.6

11.810.0

-44.1

26.9

0.7

-13.7

11.7

CS ETF (Lux) on MSCI EMU LargeCap


MSCI EMU Large Cap (NR) (10/07)Yearly or year-to-date performance respectively (ReferenceIndex)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.02 8.71 11.78 18.77 0.13 -31.04Reference Index 1.04 8.74 11.71 18.74 0.24 -31.08

Sectors in %

Financials 20.70Consumer Staples 12.33Industrials 10.67Consumer Discretionary 10.41Health Care 9.64Materials 9.35Energy 8.76Utilities 7.08Liquid Assets 0.10Others 10.96



Countries in %

Germany 34.39France 32.44Spain 10.26Netherlands 8.28Italy 8.03Belgium 3.32Finland 1.75Ireland 0.58Austria 0.47Others 0.47

Investment policyThe investment objective of the fund is to deliverthe total net return of the reference index (theMSCI EMU Large Cap), minus the fees andcosts of the fund. The reference index is a shareindex comprised of the shares of companies withlarge market capitalization whose registeredoffice is in the euro zone. The reference index isdenominated in EUR.

Fund facts

Yes


Bloomberg ticker CSEMUL SWNet Asset Value 84.39

Number of holdings

Top 10 holdings in %Total 4.43Sanofi-Aventis 4.26Siemens 3.46BASF 3.27Banco Santander 3.09Bayer 3.00Anheuser 2.88SAP 2.75Unilever 2.45ENI 2.34Total 31.94

Listing and Trading InformationExchange Listing Date Trading

CurrencyTrading Hours(Local Time)

Bloomberg Ticker Reuters RIC

SIX Swiss Exchange 24/10/2002 EUR 09:00 - 17:30 CSEMUL SW CSEMUL.SDeutsche Boerse 11/09/2003 EUR 09:00 - 17:30 XMHA GY XMHA.DEBorsa Italiana 16/10/2009 EUR 09:00 - 17:25 CSEMUL IM CSEMUL.MILondon Stock Exchange 15/09/2010 EUR,

GBx08:00 - 16:30 CEUL LN,

CEL1 LNCEUL.L,CEL1.L

Euronext 18/01/2011 EUR CEUL FP -


90



Fund managerCredit Suisse AG, Index Solutions Team

Location ZurichFund domicile LuxembourgFund currency EURUcits III-CompliantClose of financial year 31. MayTotal net assets (in millions) 111.64Inception date 17/09/2007Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.50Reference Index MSCI EMU Mid Cap (NR)Reference Index Bloomberg Ticker MMDLEMUNUnit Class Category A

(capital growth)


Income treatment AccumulationEU taxation In scope - no tax

Fund 132


CS ETF (Lux) on MSCI EMU Mid CapClass A


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

-48.9

30.3

10.8

-20.5

10.8

-49.2

30.5

11.3

-20.3

10.7

CS ETF (Lux) on MSCI EMU Mid Cap Yearly or year-to-date performance respectively (Fund)MSCI EMU Mid Cap (NR) Yearly or year-to-date performance respectively (Reference Index)


1 month 3 months YTD 1 year 3 years 5 yearsFund 2.22 6.83 10.83 13.85 -3.34 -39.45Reference Index 2.25 6.84 10.72 13.82 -2.77 -39.39

Sectors in %

Industrials 21.96Consumer Discretionary 16.98Financials 14.69Materials 10.39Information Technology 9.19Consumer Staples 9.00Utilities 4.96Health Care 4.90Liquid Assets 0.04Others 7.90



Countries in %

France 34.67Germany 12.50Netherlands 11.50Spain 10.72Belgium 7.88Italy 7.07Finland 7.00Austria 3.15Ireland 2.84Others 2.68

Investment policyThe investment objective of the fund is to deliverthe total net return of the reference index (theMSCI EMU Mid Cap), minus the fees and costsof the fund. The reference index is a share indexcomprised of the shares of companies withmedium market capitalization whose registeredoffice is in the euro zone. The reference index isdenominated in EUR.

Fund facts

Yes


Bloomberg ticker CSEMUM SWNet Asset Value 52.02

Number of holdings

Top 10 holdings in %Technip 2.23Publicis 2.01Reed Elsevier 1.88Legrand 1.80SES 1.68Koninklijke Dsm 1.56Kerry Group 1.54Banco de Sabadell 1.52Amadeus IT Holding 1.47D. E. Master Blenders 1.46Total 17.16

Listing and Trading InformationExchange Listing Date Trading

CurrencyTrading Hours(Local Time)

Bloomberg Ticker Reuters RIC

SIX Swiss Exchange 18/09/2007 EUR 09:00 - 17:30 CSEMUM SW CSEMUM.SDeutsche Boerse 18/08/2010 EUR 09:00 - 17:30 XMHC GY XMHC.DELondon Stock Exchange 15/09/2010 EUR,

GBx08:00 - 16:30 CEUM LN,

CEM1 LNCEUM.L,CEM1.L

Euronext 18/01/2011 EUR CEUM FP -


CS

ETF



91

Fund manager Luc MathysFund manager since 03/08/2011Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 85.19Inception date 16/08/2011Management fee in % p.a. 0.45Total expense ratio (ex ante) in % 0.63Benchmark (BM)

CGBI Eurodollar BBB- or Better 3-5Y (08/11)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 109


Credit Suisse Fund (Lux) Bond Medium Maturity USDClass A & B


2007 2008 2009 2010 2011 201290

100

110

120

130

140

150

-10%

0%

10%

20%

30%

40%

50%

7.31.5

5.5 3.6 3.3 5.08.1 7.5

3.7 5.4 4.1 6.23.3

-3.7

8.5 6.6 5.3 5.1

CSF (Lux) Bond Medium Maturity USD B Yearly or year-to-date performance respectively (Fund)CGBI Eurodollar BBB- or Better 3-5Y (08/11)


Lipper Global Bond USD Medium Term Yearly or year-to-date performance respectively (Sector)

Former Track record of Equis Europe (19.04.2005 - 15.08.2011)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.54 2.00 5.00 5.57 12.95 23.99Benchmark 0.65 2.39 6.17 6.80 16.80 33.94Sector 0.42 2.07 5.12 6.35 18.99 25.25

Maturities in years

0%10%20%30%40%50%60%70%80%90%

0-1 1-3 3-5 5-7 7-10 10-15 >15


USD 100.00 -

Credit Ratings in %

AAA 15.32AA+ 13.47AA 5.39AA- 13.33A+ 8.49A 16.93A- 13.02BBB+ 8.83BBB 5.22


%Maturity as % of

assetsFannie Mae 5.000 15/03/16 5.42Freddie Mac 5.125 17/11/17 2.85GECC 5.375 20/10/16 2.02GECC 3.500 29/06/15 2.00Bank of America 3.875 22/03/17 1.90Freddie Mac 2.500 27/05/16 1.89DNB NorBolKred.

2.900 29/03/16 1.87

Freddie Mac 2.000 25/08/16 1.86Philip Morris Intl. 1.125 21/08/17 1.76AT&T 2.950 15/05/16 1.73Total 23.30



Asset Allocation in %Fixed Income 100.00Total 100.00



Investment policyThe investment objective is to achieve anattractive and steady income in USD based onthe performance of the market for USD bondswith short and medium-term maturities. The fundwill invest in broadly diversified USD mediumterm bonds, other fixed income instruments aswell as variable rate instruments from theinvestment grade area, with emphasis on primeborrower quality. The fund may also invest inconvertibles and bonds with options.

Fund facts


Unit classcurrency

USD USD

LU0650597387Bloomberg ticker CSBMMUA

LXCSBMMUB LX

Net Asset Value 104.41 104.44--

Daily


Number of holdings


Average = A

92




Credit Suisse Fund (Lux) Bond Medium Maturity USDClass A & B


Q3 was dominated by two main announcementsfrom central banks. Firstly, the ECB indicatedthat it will consider unlimited purchases of shortdated government debt (maturities of up to threeyears) without a specific yield cap and with fullsterilization - called Outright MonetaryTransactions (OMT). In addition, the ECB cut thetarget refinancing rate by 25bps to 0.75% at thebeginning of July. Secondly, the Federal OpenMarket Committee (FOMC) announced a thirdround of quantitative easing (QE3) - an open-endplan of purchases of mortgage-backed securitieswith a volume of up to USD 40bn per month. In

contrast to the ECB, there will be no sterilization,and hence the monetary basis is set to increase.On top of that, the FOMC said it would probablyhold the federal funds rate near zero at least untilmid-2015.

Global economic data and leading indicatorscontinued to disappoint on average. In the US,the unemployment rate unexpectedly fell by0.2% to 8.1% in August, whereas the change innon-farm payrolls was rather disappointing. A netchange of 96,000 in August can be comparedto 163,000 in July and expectations of 130,000.

The housing market, however, is gaining furtherground. The National Association of HomeBuilders market index rose to 40, a level notseen since June 2006 before the financial crisisbroke out and US housing prices collapsed.

The Citigroup Eurodollar 3-5 years index showeda positive performance of 2.39% mainly due tofalling yields. During the same time period, therelevant swap curve shifted downwards with5-year rates dropping by 20bps to 0.77% and3-year rates being moving lower by 19bps to0.44%.


The resolve of central banks should keep debtfunding costs low and support asset prices, aswell as confidence of consumers andbusinesses. However, the aggressive Fed stanceincreases medium-term inflation risk. In Europe,the announcement of potentially unlimitedpurchases of short-dated government bonds bythe ECB marks an important turning point in theEuropean debt crisis. The commitment to act asa lender of last resort not just for banks, but alsofor sovereigns, makes extreme outcomes moreunlikely, including defaults by larger European

sovereigns or a potential break-up of theeurozone.

As risk premia, and thus funding costs forgovernments, businesses and banks decline,financial conditions should improve visibly in theweaker European economies. Economicindicators, like business surveys, are now likelyto improve from low levels. However, as longas fiscal policy remains tight and banking sectorweakness restrains credit growth, we continueto expect only a moderate recovery in growth in

southern Europe over the next 12-18 months.

In the core eurozone, particularly in Germany,growth is likely to remain stronger, though notspectacular, due to a fairly soft global economicoutlook. Chinese credit growth points to someeasing of monetary conditions, while possiblepolicy stimulus via other measures likeinfrastructure spending or incentives via taxes isless clear. Against the backdrop of persistingweaker external demand, we have revised ourgrowth forecasts for China down again.

Portfolio managementLuc Mathys joined Credit Suisse in December 2007 as head of global rates and credit within MACS Fixed Income. Prior he wasresponsible for the money market and global fixed in-come products within the fixed income group of Clariden Leu and managed severalinvest-ment funds. Previously he spent two years at Bank Hofmann in the fixed income research and fund management department wherehe was responsible for managing bond funds and for research and distribution of structured investment products. Prior he worked invarious roles and locations for UBS, ultimately as fixed income and currency fund manager at UBS Global Asset Management. Luc Mathysstudied economics, focusing on financial market theory and econometrics, at the University of Bern. In 2003 he successfully qualified as aChartered Financial Analyst (CFA), and then as a Financial Risk Manager (FRM).

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Fund manager Luc MathysFund manager since 18/05/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 194.27Inception date 17/05/2010Management fee in % p.a. 2) 0.40Total expense ratio (ex ante) in % 0.57Benchmark (BM) CGBI EuroBIG 1-3YSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 177


Credit Suisse Fund (Lux) Bond Short Maturity EURClass A & B


2010 2011 201299

100101102103104105106107

-1%0%1%2%3%4%5%6%7%

2.0

3.02.6

3.6

0.8

2.6

CSF (Lux) Bond Short Maturity EUR B Yearly or year-to-date performance respectively (Fund)CGBI EuroBIG 1-3Y Yearly or year-to-date performance respectively (Benchmark)Lipper Global Bond EUR Short Term Yearly or year-to-date performance respectively (Sector)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.14 1.24 2.98 3.58 - -Benchmark 0.36 1.58 3.63 4.44 - -Sector 0.44 1.52 2.63 2.96 - -

Maturities in years

0%10%20%30%40%50%60%70%80%90%

0-1 1-3 3-5 5-7 7-10 10-15 >15


EUR 99.99 99.99PLN 0.01 0.01

Credit Ratings in %

AAA 32.48AA+ 10.09AA 3.60AA- 7.00A+ 9.83A 8.94A- 6.55A-2 0.78BBB (Bucket) 20.72




%Maturity as % of

assetsItaly 3.000 15/04/15 2.88FinancementFoncier

2.625 16/04/15 2.45

CADES 1.875 16/02/15 2.15ICO 4.375 31/03/14 1.85Nat. Australia Bk 3.500 23/01/15 1.80Toronto Dominion 5.375 14/05/15 1.75Unedic 1.750 27/02/15 1.71Netherlands 3.750 15/07/14 1.66CS Group 2.875 24/09/15 1.62LDW Rentenbank 2.000 15/06/15 1.62Total 19.49

Asset Allocation in %Government 30.22Financial Bonds 22.03Industrial Bonds 21.08Covered/ABS 12.51Sovereign/Agencies 10.18Utilities 2.29Commercial Paper 0.77Cash/Cash Equivalents 0.92Total 100.00


Annualized volatility in % 1.20 -Information ratio -0.85 -Tracking Error (Ex post) 0.98 -Maximum draw down in % 4) -0.26 -4) Maximum drawdown is the most negative cumulative returnover a given time period.

Investment policyThe aim of the Fund is to achieve a steadyincome in euro. The Fund invests in investmentgrade short-term bonds and other fixed andvariable rate securities of which at least twothirds are denominated in euro. The Fund mayinvest in other currencies than the EUR. The partof such investments which is not hedged againstthe EUR may not exceed 10% of the Fund'sassets.

Fund facts



Bloomberg ticker CSFBSEA LX CSFBSEB LXNet Asset Value 101.97 105.16

--

Daily

2) Please note that following a decision by the Fund´sManagement Company, Credit Suisse Fund Management S.A.,as from September 1, 2011 the Annual Management Charge("AMC") is being charged at a reduced rate of 0.40%. TheManagement Company reserves the right to reinstate the fullAMC at its discretion: in the event that such a decision is taken,an update to this footnote will be made in advance indicating thefuture date of reinstatement.


Number of holdings


Average = A

94




Credit Suisse Fund (Lux) Bond Short Maturity EURClass A & B


Q3 was dominated by two main announcementsfrom central banks. Firstly, the ECB indicatedthat it will consider unlimited purchases of shortdated government debt (maturities of up to threeyears) without a specific yield cap and with fullsterilization - called Outright MonetaryTransactions (OMT). Full sterilization means thatthe ECB removes from the system elsewherethe same amount of money it spends. The ECBwould have the same legal creditor status asprivate investors. However, there was no wordingat what yield level the ECB would start buying. Inaddition, the ECB cut the target refinancing rate

by 25bps to 0.75% at the beginning of July.

Secondly, the Federal Open Market Committee(FOMC) announced a third round of quantitativeeasing (QE3) - an open-end plan of purchasesof mortgage-backed securities with a volume ofup to USD 40bn per month. In contrast to theECB, there will be no sterilization, and hence themonetary base is set to increase. On top of that,the FOMC said it would probably hold the federalfunds rate near zero at least until mid-2015.

Global economic data and leading indicators

continued to disappoint on average. Theunemployment rate in the monetary union roseto 11.4% in August, which represents a newhistorical unemployment record.

Mainly driven by falling yields, the CitigroupEuroBig 1-3 years index showed a positiveperformance in Q3 of 1.58%. During the sametime period, the relevant swap curve steepenedwith 3-year rates down by 38bps to 0.57% and1-year rates down by 44bps to 0.41%.








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Fund manager Luc MathysFund manager since 18/05/2010Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 247.20Inception date 17/05/2010Management fee in % p.a. 2) 0.40Total expense ratio (ex ante) in % 0.57Benchmark (BM)

CGBI Eurodollar BBB- or Better 1-3YSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 211


Credit Suisse Fund (Lux) Bond Short Maturity USDClass A & B


2010 2011 2012100

101

102

103

104

105

106

107

0%

1%

2%

3%

4%

5%

6%

7%

0.9

1.81.5

2.5

1.0

2.3

CSF (Lux) Bond Short Maturity USD B Yearly or year-to-date performance respectively (Fund)CGBI Eurodollar BBB- or Better 1-3Y Yearly or year-to-date performance respectively (Benchmark)Lipper Global Bond USD Short Term Yearly or year-to-date performance respectively (Sector)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.23 0.86 1.80 1.73 - -Benchmark 0.26 1.07 2.54 2.78 - -Sector 0.28 0.90 2.31 2.65 - -

Maturities in years

0%10%20%30%40%50%60%70%

0-1 1-3 3-5 5-7 7-10 10-15 >15


USD 100.00 100.00

Credit Ratings in %

AAA 18.51AA+ 23.75AA 6.42AA- 10.65A+ 8.66A 12.42A- 9.15BBB (Bucket) 10.03Not rated 0.42


%Maturity as % of

assetsFreddie Mac 2.875 09/02/15 3.01Freddie Mac 0.500 17/04/15 2.85Fannie Mae 2.375 28/07/15 2.57Fannie Mae 5.000 15/04/15 2.31Fannie Mae 0.375 16/03/15 1.62GECC 3.750 14/11/14 1.31Kommunekredit 1.250 03/09/13 1.16Netherlands 1.000 24/02/17 1.02BP CapitalMarkets

3.750 17/06/13 0.94

Credit Suisse NY 2.200 14/01/14 0.91Total 17.70





Asset Allocation in %Financial Bonds 29.91Industrial Bonds 26.33Sovereign/Agencies 26.32Government 10.66Utilities 2.04Covered/ABS 1.68Cash/Cash Equivalents 2.65Others 0.41Total 100.00

Investment policyThe aim of the Fund is to achieve a steadyincome in US dollars. The Fund invests ininvestment grade short-term bonds and otherfixed and variable rate securities of which at leasttwo-thirds are denominated in US dollars. TheFund may invest in other currencies than theUSD. The part of such investments which is nothedged against the USD may not ex-ceed 10%of the Fund's assets.

Fund facts



Bloomberg ticker CSFBSUA LX CSFBSUB LXNet Asset Value 100.49 103.77

--

Daily

2) Please note that following a decision by the Fund´sManagement Company, Credit Suisse Fund Management S.A.,as from September 1, 2011 the Annual Management Charge("AMC") is being charged at a reduced rate of 0.40%. TheManagement Company reserves the right to reinstate the fullAMC at its discretion: in the event that such a decision is taken,an update to this footnote will be made in advance indicating thefuture date of reinstatement."


Number of holdings


Average = A

96




Credit Suisse Fund (Lux) Bond Short Maturity USDClass A & B


Q3 was dominated by announcements fromcentral banks. Firstly, the ECB indicated that itwill consider unlimited purchases of short datedgovernment debt (maturities of up to three years)without a specific yield cap and with fullsterilization - called Outright MonetaryTransactions (OMT). Full sterilization means thatthe ECB removes from the system elsewherethe same amount of money it spends. The ECBwould have the same legal creditor status asprivate investors. However, there was no wordingat what yield level the ECB would start buying. Inaddition, the ECB cut the target refinancing rateby 25bps to 0.75% in early July.

Secondly, the Federal Open Market Committee(FOMC) announced a third round of quantitativeeasing (QE3) - an open-end plan of purchasesof mortgage-backed securities with a volume ofup to USD 40bn per month. There will be nosterilization, and hence the monetary base is setto increase. On top of that, the FOMC said itwould probably hold the fed funds rate near zeroat least until mid-2015.

Global economic data and leading indicatorscontinued to disappoint. In the US,unemployment unexpectedly fell by 0.2% to8.1% in August, whereas the change innon-farm payrolls was rather disappointing. A

net change of 96,000 in August compares to163,000 in July and expectations of 130,000.The housing market, however, is gaining ground.The National Association of Home Buildersmarket index rose to 40, a level not seen sinceJune 2006 before the financial crisis broke andhouse prices collapsed.

The Citigroup Eurodollar 1-3 years index showeda positive performance of 1.07% mainly due tofalling yields. During the same period, therelevant swap curve flattened with 3-year ratesdown by 19bps to 0.44% and 1-year rates downby 16bps to 0.34%.








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Fund manager Michel BergerFund manager since 31/05/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 412.18Inception date 31/05/2012Management fee in % p.a. 0.50Total expense ratio (ex ante) in % 0.20Benchmark (BM) CGBI EuroBIG All Mats. (06/12)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)


Redemptions DailyEU taxation In scope

Fund 162


Credit Suisse Fund (Lux) Bond EURClass A & B


2007 2008 2009 2010 2011 201295

100105110115120125130135

-5%0%5%

10%15%20%25%30%35%

1.1

6.0 6.2 5.42.8

7.5

1.7

7.4 6.5

2.1 3.5

7.7

0.8

5.5 4.11.3 1.7

6.1

CSF (Lux) Bond EUR B Yearly or year-to-date performance respectively (Fund)CGBI EuroBIG All Mats. (06/12) Yearly or year-to-date performance respectively (Benchmark)Lipper Global Bond EuroZone Yearly or year-to-date performance respectively (Sector)

Former Track record of Orchis EUR Fixed Income (19.04.2005 - 30.05.2012 )



Maturities in months

0%10%20%30%40%50%60%70%80%90%

100%

0-1 1-2 2-3 3-6 6-9 9-12 >12


EUR 100.00 100.00

Credit Ratings in %



assetsItaly 4.250 01/03/20 2.87Italy 4.250 01/09/19 2.65Italy 5.750 25/07/16 2.32Italy 4.000 01/09/20 2.09France OAT 2.500 25/10/20 2.08European Union 2.750 03/06/16 1.59KFW 4.375 04/07/18 1.45KFW 3.875 21/01/19 1.44Netherlands 4.500 15/07/17 1.44Germany 3.500 04/07/19 1.43Total 19.36




Gross portfolio yield in % 2.08Average remaining term to maturity in days 2407Modified duration (days) 2219

Asset Allocation in %Government 39.77Financial Bonds 16.08Industrial Bonds 15.78Sovereign/Agencies 15.08Covered/ABS 9.24Utilities 3.38Cash/Cash Equivalents 0.67Total 100.00

Investment policyThe investment objective is to achieve anattractive and steady income in EUR based onthe performance of the market for EUR bondswith medium and long-term maturities. The fundwill invest in broadly diversified EUR medium tolong-term bonds, other fixed income instrumentsas well as variable rate instruments from theinvestment grade area, with emphasis placed onprime borrower quality. The fund may also investin convertibles and bonds with options.

Fund facts



Bloomberg ticker CSBEURA LX CSBEURB LXNet Asset Value 102.23 102.23

Daily


Number of holdings


Average = A

98




Credit Suisse Fund (Lux) Bond EURClass A & B


The third quarter of 2012 was dominated bytwo main announcements from Central Banks.Firstly, the ECB president Mario Draghi indicatedthat the central bank will consider unlimitedpurchases of short dated government debt(maturities of up to three years) without a specificyield cap and with full sterilization - calledOutright Monetary Transactions (OMT). Fullsterilization means that the ECB removes fromthe system elsewhere the same amount ofmoney it spends. The ECB would have the samelegal creditor status as private investors.However, there was no wording at what yield

level the ECB would start buying. In additionto that, the ECB cut the target refinancing rateby 25 basis points to 0.75% at the beginningof July. Secondly, the Federal Open MarketCommittee (FOMC) announced a third round ofQuantitative Easing (QE3). An open-end plan ofpurchases of Mortgage-Backed Securities with avolume of up to $40bn per month is considered.In contrast to the ECB there will be nosterilization, hence, the monetary basis is set toincrease. On top of that, the FOMC said it wouldprobably hold the federal funds rate near zero atleast through mid-2015. Global economic data

and leading indicators continued to disappoint onaverage. The unemployment rate in the monetaryunion rose to 11.4% in August which representsa new historical unemployment record. Mainlydriven by falling yields, the Citigroup EuroBigindex showed a positive performance of +3.53%in the third quarter of 2012. During the sametime period, the relevant swap curve steepenedwith 10-year rates down by 23 basis points to1.75% and 2-year rates down by 40 basis pointsto 0.46%.


The Central Banks’ resolve should keep debtfunding costs low, and support asset prices aswell as confidence of consumers andbusinesses. However, the aggressive FEDstance increases medium-term inflation risk. InEurope, the announcement of potentiallyunlimited purchases of short-dated governmentbonds by the ECB marks an important turningpoint in the European debt crisis. Thecommitment to act as a lender of last resort notjust for banks, but also for sovereigns, makesextreme outcomes more unlikely, including

defaults by larger European sovereigns or apotential break-up of the Eurozone. As riskpremia, and thus funding costs for governments,businesses and banks decline, financialconditions should improve visibly in the weakerEuropean economies. Economic indicators, likebusiness surveys, are now likely to improve fromlow levels. However, as long as fiscal policyremains tight and banking sector weaknessrestrains credit growth, we continue to expectonly a moderate recovery in growth in southernEurope over the next 12-18 months. In the core

Eurozone, particularly in Germany, growth islikely to remain stronger, though not spectacular,due to a fairly soft global economic outlook.Chinese credit growth points to some easingof monetary conditions, while possible policystimulus via other measures like infrastructurespending or incentives via taxes is less clear.Against the backdrop of persisting weakerexternal demand, we have revised our growthforecasts for China down again.

Portfolio managementMichel Berger is a Director and Senior Fixed Income Portfolio Manager, responsible for fixed income investment funds and mandates inEUR and USD. Previously he was responsible for the fixed income products for classic mandates within Multi Asset Class Solutions. Priorto joining MACS he worked for Credit Suisse First Boston and was responsible for trading in convertible bonds. Before joining CreditSuisse in 1995, and after having started his career at Citicorp Investment Bank as trader for CHF fixed income products, he worked for 7years in various roles for Coutts & co., ultimately as fixed income trader for Eurobonds. Michel Berger has more than 26 years ofprofessional experience in the fixed income business. Michel Berger holds a degree in Business Administration from the KaderschuleZurich (KSZ)

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Fund manager Michel BergerFund manager since 01/05/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 294.46Inception date 16/08/2011Management fee in % p.a. 0.50Total expense ratio (ex ante) in % 0.67Benchmark (BM)

CGBI Eurodollar BBB- or Better (08/11)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 254


Credit Suisse Fund (Lux) Bond USDClass A & B


2007 2008 2009 2010 2011 201290

100

110

120

130

140

150

160

-10%

0%

10%

20%

30%

40%

50%

60%

7.3 5.02.1

6.9 6.8 6.38.3 8.73.0

8.7 7.9 7.54.2

-4.7

11.07.8 5.7 6.4

CSF (Lux) Bond USD B Yearly or year-to-date performance respectively (Fund)CGBI Eurodollar BBB- or Better (08/11) Yearly or year-to-date performance respectively (Benchmark)Lipper Global Bond USD Yearly or year-to-date performance respectively (Sector)

Former Track record of Orchis USD Fixed Income (19.04.2005 - 15.08.2011)



Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 >10


USD 100.00 -

Credit Ratings in %



%Maturity as % of

assetsUS TreasuryNotes

0.250 15/02/15 2.72

Freddie Mac 5.125 17/11/17 2.48US Treasury 5.375 15/02/31 1.47US Treasury 4.500 15/02/36 1.36Freddie Mac 6.750 15/03/31 1.33Fannie Mae 5.000 11/05/17 1.22IADB 3.875 14/02/20 1.20KFW 4.000 27/01/20 1.19BNG 5.125 05/10/16 1.17Rabobank 4.750 15/01/20 1.16Total 15.30



Asset Allocation in %Fixed Income 100.00Total 100.00



Investment policyThe investment objective is to achieve anattractive and steady income in USD based onthe performance of the market for USD bondswith medium and long-term maturities. The fundwill invest in broadly diversified USD medium tolong-term bonds, other fixed income instrumentsas well as variable rate instruments from theinvestment grade area, with emphasis placed onprime borrower quality.

Fund facts


Unit classcurrency

USD USD

LU0650589525Bloomberg ticker CSBUSDA

LXCSBUSDB LX


Daily


Number of holdings


Average = A

100




Credit Suisse Fund (Lux) Bond USDClass A & B



contrast to the ECB, there will be no sterilization,and hence the monetary basis is set to increase.On top of that, the FOMC said it would probablyhold the federal funds rate near zero at least untilmid-2015.



The Citigroup Eurodollar index showed a positiveperformance of 3.32% mainly due to fallingyields. During the same time period, the relevantswap curve steepened with 10-year ratesdropping by 7bps to 1.70% and 2-year ratesmoving lower by 18bps to 0.37%.







Portfolio managementMichel Berger is a Director and Senior Fixed Income Portfolio Manager, responsible for fixed income investment funds and mandates inEUR and USD. Previously he was responsible for the fixed income products for classic mandates within Multi Asset Class Solutions. Priorto joining MACS he worked for Credit Suisse First Boston and was responsible for trading in convertible bonds. Before joining CreditSuisse in 1995, and after having started his career at Citicorp Investment Bank as trader for CHF fixed income products, he worked for 7years in various roles for Coutts & co., ultimately as fixed income trader for Eurobonds. Michel Berger has more than 26 years ofprofessional experience in the fixed income business. Michel Berger holds a degree in Business Administration from the KaderschuleZurich (KSZ)

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Fund 183

Fund manager Oliver GasserFund manager since 11/02/2011Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 343.27Inception date 11/02/2011Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.18Benchmark (BM)

CB CSF (Lux) Fixed Income Cycle InvestSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)




Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass A & B


2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

6.78.9

CSF (Lux) Fixed Income Cycle Invest B Yearly or year-to-date performance respectively (Fund)CB CSF (Lux) Fixed Income Cycle Invest Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.75 2.37 6.71 6.84 - -Benchmark 0.66 3.83 8.86 11.44 - -

Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 >10

Currencies in %before hedging

EUR 64.05USD 27.91CHF 5.84GBP 1.70AUD 0.50

Asset Allocation in %Fixed Income 95.89Mortgage Backed Securities 2.67Open-end Funds 1.44Total 100.00

Number of holdings



Credit Ratings in %Fund

AAA 34.00AA 13.00A 22.00BBB 23.00BB 7.00B 1.00


%Maturity as % of

assetsGermany 4.250 04/01/14 3.22KFW 3.125 25/02/14 3.04Germany 4.500 04/01/13 1.92Nordea Bank 2.500 02/06/14 1.81CADES 4.000 25/10/14 1.56Sweden 3.125 07/05/14 1.53US Treasury 1.750 15/04/13 1.26Sparbank BoligReg.

5.000 10/09/13 1.22

SNS Bank 2.125 30/08/17 1.17US Treasury 0.500 31/05/13 1.13Total 17.86

Benchmark CompositionBarclays Global Aggr. (RI) (Hgd. into EUR) 70.00Barclays World Infl.-Linked (RI) (Hgd. intoEUR)

15.00

Barclays Global EM (RI) (Hgd. into EUR) 10.00Barclays Global High Yield (RI) (Hgd. into EUR) 5.00



Investment policyThe objective is to achieve the highest possiblereturn within defined risk diversification rules byengaging in active fixed income sector rotationthroughout the different fixed income assetclasses (such as government, corporate,inflation-linked, emerging markets,supranationals, high yield, convertible bonds andcollateralized debt obligations) across the qualityspectrum to capture attractive investmentopportunities based on the development of thebusiness cycle and respective development ofthe interest rate and credit spreads while takingdue account of the liquidity of the assets.

Fund facts



Bloomberg ticker CSFCYCA LX CSFCYCB LXNet Asset Value 99.68 100.94

--

Daily



102




Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass A & B


The US economy remained on a slow growthtrack with the economy expanding just 1.3%q-o-q annualized in Q3 2012. However, thecrisis weighed heavily on business activity in theeuro area, including, increasingly, the corecountries. With governments having to facesignificant fiscal austerity, GDP figures were

subject to repeated downward revisions.

Unsurprisingly therefore, Market tensionsseemed to reach new highs in Q3, as once againwe saw important monetary policy actions fromthe Fed, the ECB, the BoJ and the BoE. ECBpresident, Mario Draghi, even went as far as

promising to do "whatever it takes" to save theeuro with the announcement of a new OutrightMonetary Transactions (OMT) program, whichoffers the prospect of unlimited purchases ofshorter-dated government bonds of countrieswith certain ESM programs.


While we expect economic growth in the USto remain slow, we do not see a recessiondeveloping. The outcome of the presidentialelection, combined with the recent policy easingby the Fed and its willingness to provide moresupport, increase our confidence that the USeconomy will continue to advance.

In Europe however, significant uncertainties willremain in the future. The most discussed

question is whether or not Spain, and maybeItaly too, will apply for the full European StabilityMechanism (ESM) program, which are aprecondition of the ECB bond purchases. TheSpanish government’s ability to stick to theconditionality embodied in the program, as wellas uncertainties over the political situation, areparticularly worrying. We expect Spain to applyfor an ESM program in Q4, after the elections.The situation in Italy is equally worrying, with the

government facing a deep recession, high debtand political uncertainty.

Looking ahead, we expect deep recessions inthe periphery with governments having to adhereto strict fiscal austerity. Against that backdrop,global risk aversion looks set to remainheightened.

Portfolio managementOliver R. Gasser, CFA has global responsibility for structured finance within the Fixed Income team of Credit Suisse Asset Management.Prior to joining Credit Suisse, Oliver Gasser was a Director at UBS from 2002 through 2007, where as a Credit Portfolio Manager he wasresponsible for credit (de-)investments of the loan book of Global WM&BB. Prior to that, Oliver worked n various roles in the fixed incometrading and sales division of CS and CSFB Zurich for over 12 years. Mr. Gasser holds a Degree in BA from the University of AppliedSciences Zurich and qualified as a Chartered Financial Analyst (CFA) in 2006.

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CB CSF (Lux) Fixed Income Cycle InvestSwinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)



Fund 183


Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass I


2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

7.18.9

CSF (Lux) Fixed Income Cycle Invest I Yearly or year-to-date performance respectively (Fund)CB CSF (Lux) Fixed Income Cycle Invest Yearly or year-to-date performance respectively (Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 >10


EUR 64.05USD 27.91CHF 5.84GBP 1.70AUD 0.50





AAA 34.00AA 13.00A 22.00BBB 23.00BB 7.00B 1.00


%Maturity as % of


5.000 10/09/13 1.22


Benchmark CompositionBarclays Global Aggr. (RI) (Hgd. into EUR) 70.00Barclays World Infl.-Linked (RI) (Hgd. intoEUR)

15.00

Barclays Global EM (RI) (Hgd. into EUR) 10.00Barclays Global High Yield (RI) (Hgd. into EUR) 5.00




Fund facts


Bloomberg ticker CSFICIA LXNet Asset Value 1,016.61


Number of holdings


104




Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass I













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105


CB CSF (Lux) Fixed Income Cycle Invest CHFSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)



Fund 183


Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass R CHF


2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

6.2 5.6

CSF (Lux) Fixed Income Cycle Invest R CHF Yearly or year-to-date performance respectively (Fund)CB CSF (Lux) Fixed Income Cycle InvestCHF




Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 >10

Currencies in % 0)

before hedgingEUR 64.05USD 27.91CHF 5.84GBP 1.70AUD 0.50In addition to the currency table shown above, for this class,hedging strategies, by means of forward foreign exchangetransactions, are implemented to protect the class currencyagainst currency fluctuations of the fund's reference currency.This may substantially protect investors against a decrease in thevalue of the fund's reference currency relative to the hedgedclass currency, but it may also preclude investors from benefitingfrom an increase in the value of the fund's currency.





AAA 34.00AA 13.00A 22.00BBB 23.00BB 7.00B 1.00


%Maturity as % of


5.000 10/09/13 1.22


Benchmark CompositionBarclays Global Aggr. (RI) (Hgd. into CHF) 70.00Barclays World Infl.-Linked (RI) (Hgd. intoCHF)

15.00

Barclays Global EM (RI) (Hgd. into CHF) 10.00Barclays Global High Yield (RI) (Hgd. into CHF) 5.00




Fund facts


Bloomberg ticker CSFCYRC LXNet Asset Value 99.04


Number of holdings


106




Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass R CHF













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107


CB CSF (Lux) Fixed Income Cycle Invest USDSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)



Fund 183


Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass R USD


2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

6.9 6.0

CSF (Lux) Fixed Income Cycle Invest R USD Yearly or year-to-date performance respectively (Fund)CB CSF (Lux) Fixed Income Cycle InvestUSD




Maturities in years

0%5%

10%15%20%25%30%35%40%45%

0-1 1-3 3-5 5-7 7-10 >10


EUR 64.05USD 27.91CHF 5.84GBP 1.70AUD 0.50In addition to the currency table shown above, for this class,hedging strategies, by means of forward foreign exchangetransactions, are implemented to protect the class currencyagainst currency fluctuations of the fund's reference currency.This may substantially protect investors against a decrease in thevalue of the fund's reference currency relative to the hedgedclass currency, but it may also preclude investors from benefitingfrom an increase in the value of the fund's currency.





AAA 34.00AA 13.00A 22.00BBB 23.00BB 7.00B 1.00


%Maturity as % of


5.000 10/09/13 1.22


Benchmark CompositionBarclays Global Aggr. (RI) (Hgd. into USD) 70.00Barclays World Infl.-Linked (RI) (Hgd. intoUSD)

15.00

Barclays Global EM (RI) (Hgd. into USD) 10.00Barclays Global High Yield (RI) (Hgd. into USD) 5.00




Fund facts


Bloomberg ticker CSFCYRU LXNet Asset Value 100.79


Number of holdings


108




Credit Suisse Fund (Lux) Fixed Income Cycle InvestClass R USD













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Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency CHFMin. Investment Amount NoneClose of financial year 30. SepTotal net assets (in millions) 252.72Inception date 07/11/2005Management fee in % p.a. 1.40Total expense ratio (ex ante) in % 1.59Benchmark (BM)

DJ-UBS Commodity Index (RI) (CHF-Hgd Daily)(06/11)




Credit Suisse Fund (Lux) Commodity Index Plus (Sfr)Class B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

10.1

-39.4

22.115.0

-13.8

2.513.8

-35.2

18.9 14.6

-13.9

5.1

CSF (Lux) Commodity Index Plus (Sfr) B Yearly or year-to-date performance respectively (Fund)DJ-UBS Commodity Index (RI) (CHF-HgdDaily)(06/11)




Commodity Sectors in %

Agriculture 32.49Energy 30.58Industrial Metals 18.49Precious Metals 13.17Livestock 5.26



Top collateral holdings in %Position Coupon

%Maturity as % of

assetsT-NTS United Statesof Am.

1.375 15/05/13 7.49

US Treasury Bill 0.000 21/03/13 5.57Fannie Mae 0.237 23/11/12 4.46US Treasury 1.000 15/07/13 3.74US Treasury 0.500 31/05/13 3.73US Treasury 1.125 15/12/12 3.73US Treasury 1.375 15/01/13 3.73US Treasury 0.625 28/02/13 3.73Federal Home LoanBank

0.370 15/03/13 3.72

US Treasury 1.375 15/11/12 3.72Total 43.62

Investment policyThe aim of the fund is to track the Dow Jones- UBS Commodity Index as closely as possibleby investing in various derivatives. The fund alsoendeavors to achieve enhancement throughactively managing the derivatives. Its lowcorrelation with traditional asset classes makesthe fund an ideal portfolio diversificationinstrument. Furthermore, it offers goodprotection from inflation risks in the event of arise in commodity prices.

Fund facts


Bloomberg ticker CSFLBSB LXNet Asset Value 81.87


110




Credit Suisse Fund (Lux) Commodity Index Plus (Sfr)Class B


Commodities increased during Q3 2012.Precious metals was the best performing sector,with silver posting the largest individual gain,after Ben Bernanke unveiled the Fed’s newprogram to buy USD 40bn in mortgage backedsecurities per month. Industrial metals alsogained on central bank pledges for furtherstimulus and market support efforts. China’sYunnan provincial government also announcedgovernment intervention, declaring it wouldstockpile tons of aluminum, copper, and zinc tokeep local smelters running and support localeconomic performance as well as the incumbenttax revenues. Energy was higher, led by refined

petroleum products affected by Hurricane Isaacand Venezuela’s largest oil refinery catching onfire earlier in the quarter. Natural gas also gaineddue to cooler weather forecasts across parts ofthe US, signaling the start of the heating demandseason.

Agriculture increased after an exceptionally warmand dry summer in the US Midwest deterioratedcrop prospects and lowered yield expectationsfor grains. Corn was the sector’s best performeras the new crop entered the key pollinating andyield-setting period amid exceptionallychallenging weather conditions. A faster than

normal harvest capped some of the gains in thesecond half of the quarter. Sugar decreased asheavy rains in Brazil and improvement inmonsoon rains in India improved productionexpectations. Livestock decreased as Lean Hogweights continued to be reported below lastyear’s levels. This was a reflection of lowerquality corn being used as feed and pigs beingbrought to slaughter sooner due to the highercosts of feed. While this could ultimately lead tolower supplies, it has increased short term porksupply.


Commodities performance was mixed inSeptember. Base and precious metals benefittedfrom quantitative easing measures announced inthe US and stimulus measures implemented bycentral banks around the globe. Home and carsales, along with other discretionary consumergoods spending, also showed sustainedimprovements in US consumer confidence.However, the looming federal “fiscal cliff” willlikely remain a drag on the US economy. Q2GDP growth was revised lower to 1.3% anddurable goods were sharply lower in August.

In September, the Fed pledged to buy USD

40bn in mortgage backed securities per monthand keep Operation Twist in place untilemployment improves significantly. The Fed alsoextended its low interest rate guidance throughto mid-2015 and effectively stated it will err onthe side of removing support too late, ratherthan too early. Historically, tightening monetarypolicy after signs of inflation have emerged hascoincided with higher than expected inflation.The determination of the Fed and other majorcentral banks and governments to support theirmarkets and economies may lead to weakercurrencies. This has in turn increased the appealof hard assets as an inflation hedge and is likely

to continue do so.

However, inflation expectations remain anchorednear historic levels. Current yields on fixedincome investments suggest investors are notoverly worried with high rates of inflation. Thismay lead to inflation overshooting expectations ifeconomic activity begins to pick up more robustlythan expected. Commodities have historicallytended to outperform during periods of higherthan expected inflation. We believe investors willcontinue to benefit from the long-termdiversification benefits that commodities provide.

Portfolio managementChristopher Burton, Director, is a Portfolio Manager and Trader for the Commodities Group within Credit Suisse Asset Management. Inthis role, Mr. Burton is responsible for analyzing and implementing the team's hedging strategies, indexing strategies, and excess returnstrategies. Prior to joining Credit Suisse in 2005, Mr. Burton served as an Analyst and Derivatives Strategist with Putnam Investments,where he developed the team's analytical tools and managed their options-based yield enhancement strategies, as well as exposuremanagement strategies. Mr. Burton earned a B.S. in Economics with concentrations in Finance and Accounting from the University ofPennsylvania's Wharton School of Business. Additionally, Mr. Burton holds the Chartered Financial Analyst designation and has achievedFinancial Risk Manager® Certification through the Global Association of Risk Professionals (GARP).

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Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 252.72Inception date 27/01/2006Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.59Benchmark (BM)

DJ-UBS Commodity Index (RI) (CHF-Hgd Daily)(06/11)



Min. Init. Investm. Amount (in mill.) 3


Credit Suisse Fund (Lux) Commodity Index Plus (Sfr)Class I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

11.2

-38.8

23.416.2

-12.9

3.313.8

-35.2

18.9 14.6

-13.9

5.1

CSF (Lux) Commodity Index Plus (Sfr) I Yearly or year-to-date performance respectively (Fund)DJ-UBS Commodity Index (RI) (CHF-HgdDaily)(06/11)









%Maturity as % of


1.375 15/05/13 7.49

US Treasury Bill 0.000 21/03/13 5.57Fannie Mae 0.237 23/11/12 4.46US Treasury 1.000 15/07/13 3.74US Treasury 0.500 31/05/13 3.73US Treasury 1.125 15/12/12 3.73US Treasury 1.375 15/01/13 3.73US Treasury 0.625 28/02/13 3.73Federal Home LoanBank

0.370 15/03/13 3.72



Fund facts


Bloomberg ticker CSFLBSA LXNet Asset Value 852.21


112




Credit Suisse Fund (Lux) Commodity Index Plus (Sfr)Class I










to continue do so.



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113

Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency USDMin. Investment Amount NoneClose of financial year 30. SepTotal net assets (in millions) 505.26Inception date 07/11/2005Management fee in % p.a. 1.40Total expense ratio (ex ante) in % 1.59Benchmark (BM) DJ-UBS Commodity Index (RI)Unit Class Category B

(capital growth)



Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

15.0

-40.1

28.016.8

-12.8

3.5

16.2

-35.6

18.9 16.8

-13.3

5.6

CSF (Lux) Commodity Index Plus (US$) B Yearly or year-to-date performance respectively (Fund)DJ-UBS Commodity Index (RI) Yearly or year-to-date performance respectively (Benchmark)








%Maturity as % of


1.375 15/05/13 5.98

US Treasury 0.500 31/05/13 4.96Fannie Mae 0.237 23/11/12 4.95Freddie Mac 0.178 06/05/13 4.55US Treasury 1.000 15/07/13 4.48FFCB 0.230 30/12/13 4.35US Treasury 0.375 31/10/12 4.35US Treasury Bill 0.000 08/11/12 4.35US Treasury 1.375 15/01/13 3.97US Treasury 0.625 28/02/13 3.96Total 45.90


Fund facts


Bloomberg ticker CSFLCUB LXNet Asset Value 96.11


114




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class B










to continue do so.



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115

Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 505.26Inception date 31/07/2006Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.59Benchmark (BM) DJ-UBS Commodity Index (RI)Unit Class Category I (capital

growth)




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

16.1

-39.5

29.318.0

-11.9

4.316.2

-35.6

18.9 16.8

-13.3

5.6

CSF (Lux) Commodity Index Plus (US$) I Yearly or year-to-date performance respectively (Fund)DJ-UBS Commodity Index (RI) Yearly or year-to-date performance respectively (Benchmark)








%Maturity as % of


1.375 15/05/13 5.98



Fund facts


Bloomberg ticker CSFLCUI LXNet Asset Value 939.61


116




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class I










to continue do so.



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117

Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 505.26Inception date 17/04/2012Management fee in % p.a. 1.40Total expense ratio (ex ante) in % 1.55Benchmark (BM)

DJ-UBS Commodity Index (RI) (EUR-Hgd Daily)Unit Class Category R - hedged

(capital growth)




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class R EUR


(Simulated prior to April 17, 2012) *

2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

12.6

-42.3

22.415.8

-13.1

2.7

15.2

-35.3

17.9 16.3

-13.5

5.3

CSF (Lux) Commodity Index Plus (US$) REUR


DJ-UBS Commodity Index (RI) (EUR-HgdDaily)


The shareclass was launched on 17.04.2012 and therefore no actual performance data are available prior to this date. The simulated performance presented above,up to and including 16.04.2012, is intended to provide an indication of how the shareclass may have performed in the past. It is based on the performance ofCSF (Lux) Commodity Index Plus (Euro) with same investment policy and characteristics, managed by the investment manager of the Fund continuously since01.01.2007. Past performance, whether actual or simulated, does not guarantee future results.








%Maturity as % of


1.375 15/05/13 5.98



Fund facts


Bloomberg ticker CSCIPRE LXNet Asset Value 82.66


118




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class R EUR










to continue do so.



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Fund manager Christopher Burton, Nelson LouieFund manager since 07/11/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 505.26Inception date 17/04/2012Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.56Benchmark (BM)

DJ-UBS Commodity Index (RI) (EUR-Hgd Daily)Unit Class Category S - hedged

(capital growth)




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class S EUR


(Simulated prior to April 17, 2012) *

2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

13.7

-41.7

23.617.0

-12.3

3.515.2

-35.3

17.9 16.3

-13.5

5.3

CSF (Lux) Commodity Index Plus (US$) SEUR


DJ-UBS Commodity Index (RI) (EUR-HgdDaily)


The shareclass was launched on 17.04.2012 and therefore no actual performance data are available prior to this date. The simulated performance presented above,up to and including 16.04.2012, is intended to provide an indication of how the shareclass may have performed in the past. It is based on the performance ofCSF (Lux) Commodity Index Plus (Euro) I with same investment policy and characteristics, managed by the investment manager of the Fund continuously since01.01.2007. Past performance, whether actual or simulated, does not guarantee future results.








%Maturity as % of


1.375 15/05/13 5.98



Fund facts


Bloomberg ticker CSCIPSE LXNet Asset Value 839.23


120




Credit Suisse Fund (Lux) Commodity Index Plus (US$)Class S EUR










to continue do so.



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Purchases Sales- CISCO SYSTEMS- PROCTER & GAMBLE- VODAFONE GROUP- SMITH & NEPHEW- BOUYGUES

Fund manager iMACS Funds TeamFund manager since 01/03/2012Location ZurichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 92.60Inception date 15/01/2009Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.17Benchmark (BM) DJ Sustainability World Index (NR)Unit Class Category B

(capital growth)


Redemptions DailyEU taxation Out of scope


Credit Suisse Fund (Lux) Global Responsible EquitiesClass B


2009 2010 2011 20128090

100110120130140150160170

-20%-10%

0%10%20%30%40%50%60%70%

12.8

-6.7

7.313.9

-4.8

11.2

CSF (Lux) Global Responsible Equities B Yearly or year-to-date performance respectively (Fund)DJ Sustainability World Index (NR) Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.05 3.63 7.26 16.64 18.62 -Benchmark 1.18 6.01 11.21 22.57 28.07 -

Sectors in %Fund

Health Care 16.93Financials 14.16Energy 13.95Consumer Staples 12.81Information Technology 12.40Materials 8.38Industrials 8.24Consumer Discretionary 7.16Cash/Cash Equivalents 1.67Others 4.31

Currencies in %

USD 40.31EUR 16.42CHF 10.14GBP 8.84AUD 8.05JPY 4.03HKD 3.38DKK 2.08SGD 1.97Others 4.79

Countries in %

USA 33.59Switzerland 10.14United Kingdom 8.81Australia 8.02Germany 6.74South Korea 3.99Brazil 3.96Japan 3.95France 3.41Others 17.40


Investment policyThis fund's objective is to generate the highestpossible return in euros by taking advantage ofthe possibilities for international diversification.The fund invests at least 80% in equities andequity-type securities worldwide. In addition tothis equity portfolio, the fund may hold up to20% of its assets in money market instruments.The selection of investments is geared largelytoward compliance with international norms andstandards in the field of Environment, Social andCorporate Governance (ESG) and the UNPrinciples for Responsible Investments (PRI).

Fund facts


Bloomberg ticker CSFGREB LXNet Asset Value 144.75




122




Credit Suisse Fund (Lux) Global Responsible EquitiesClass B


Q3 continued to be overshadowed by the debtcrisis in Europe, although the statements by ECB

President Mario Draghi that it would be on handto rescue the euro within the scope of its

mandate had an exceptionally positive effect onthe financial markets.


We remain moderately positive on the globaleconomic trend. Although the risk of a globalrecession remains, it is unlikely to come about

due to the determined stance taken by thecentral banks.

Portfolio managementThe portfolio is managed by a team of experienced investment professionals who are based in Zurich. The fund is managed according to CS private bankingresearch stock selection and in line with CS Asset Management Investment views. The team includes several portfolio managers who contribute to theco-management of the fund according to their area of expertise.

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Purchases Sales- CISCO SYSTEMS- PROCTER & GAMBLE- VODAFONE GROUP- SMITH & NEPHEW- BOUYGUES

Fund manager iMACS Funds TeamFund manager since 01/03/2012Location ZurichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 92.60Inception date 13/11/2009Management fee in % p.a. 0.75Total expense ratio (ex ante) in % 0.95Benchmark (BM) DJ Sustainability World Index (NR)Unit Class Category I (capital

growth)


Min. Init. Investm. Amount (in mill.) 3Redemptions DailyEU taxation Out of scope


Credit Suisse Fund (Lux) Global Responsible EquitiesClass I


2009 2010 2011 20129095

100105110115120125130135

-10%-5%0%5%

10%15%20%25%30%35%

14.2

-5.6

8.2

13.9

-4.8

11.2

CSF (Lux) Global Responsible Equities I Yearly or year-to-date performance respectively (Fund)DJ Sustainability World Index (NR) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %Fund

Health Care 16.93Financials 14.16Energy 13.95Consumer Staples 12.81Information Technology 12.40Materials 8.38Industrials 8.24Consumer Discretionary 7.16Cash/Cash Equivalents 1.67Others 4.31

Currencies in %

USD 40.31EUR 16.42CHF 10.14GBP 8.84AUD 8.05JPY 4.03HKD 3.38DKK 2.08SGD 1.97Others 4.79

Countries in %

USA 33.59Switzerland 10.14United Kingdom 8.81Australia 8.02Germany 6.74South Korea 3.99Brazil 3.96Japan 3.95France 3.41Others 17.40


Investment policyThis fund's objective is to generate the highestpossible return in euros by taking advantage ofthe possibilities for international diversification.The fund invests at least 80% in equities andequity-type securities worldwide. In addition tothis equity portfolio, the fund may hold up to20% of its assets in money market instruments.The selection of investments is geared largelytoward compliance with international norms andstandards in the field of Environment, Social andCorporate Governance (ESG) and the UNPrinciples for Responsible Investments (PRI).

Fund facts


Bloomberg ticker CSFGREI LXNet Asset Value 1,208.13




124




Credit Suisse Fund (Lux) Global Responsible EquitiesClass I


Q3 continued to be overshadowed by the debtcrisis in Europe, although the statements by ECB

President Mario Draghi that it would be on handto rescue the euro within the scope of its

mandate had an exceptionally positive effect onthe financial markets.





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Fund manager Romeo SakacFund manager since 24/09/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 460.46Inception date 16/08/2011Management fee in % p.a. 0.30Total expense ratio (ex ante) in % 0.38Benchmark (BM) Citigroup EMU EUR 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 121


Credit Suisse Fund (Lux) Money Market EURClass B


2007 2008 2009 2010 2011 2012100

102

104

106

108

110

112

114

0%

2%

4%

6%

8%

10%

12%

14%

3.5 3.6

2.00.8 0.8 0.5

4.24.9

1.40.5

1.20.6

CSF (Lux) Money Market EUR B Yearly or year-to-date performance respectively (Fund)Citigroup EMU EUR 3M Euro Dep. Yearly or year-to-date performance respectively (Benchmark)

Former Track record of Orchis EUR Money Market (19.04.2005 - 15.08.2011)




0%5%

10%15%20%25%30%35%40%45%

0-1 1-2 2-3 3-6 6-9 9-12 >12


EUR 100.00 -

Credit Ratings in %

AAA (Bucket) 27.40AA (Bucket) 22.40A (Bucket) 46.80BBB (Bucket) 3.40


%Maturity as % of

assetsRoche 4.625 04/03/13 2.07Siemens 4.125 20/02/13 1.93LKB Baden-W 4.125 15/04/13 1.89NRW Bank 4.250 14/05/13 1.78CS Group 1.152 17/06/13 1.62UBS London 2.375 21/01/13 1.55DeutschePostbank

4.250 16/01/13 1.54

Euromortgage 3.625 25/03/13 1.54Fin. Danish Ind. 2.125 21/03/13 1.53GlaxoSmithKline 5.125 13/12/12 1.53Total 16.98



Asset Allocation in %Bonds with short maturity 70.80Floating-rate Notes (FRN)/(FRMTN) 13.90Commercial Paper 5.40Cash/Cash Equivalents 9.90Total 100.00


Annualised volatility in % 0.15 0.38Information ratio 0.27 -0.79Tracking Error (Ex post) 0.17 0.24Maximum draw down in % 3) -0.01 -0.013) Maximum drawdown is the most negative cumulative returnover a given time period.

Investment policyThe investment objective is to achieve anattractive and steady income in EUR based onthe performance of EUR money marketinstruments.The fund will invest in broadly diversified EURmoney market instruments from the investmentgrade area, with emphasis on prime borrowerquality.

Fund facts


Bloomberg ticker CSLMMEB LXNet Asset Value 100.72


Number of holdings


126




Credit Suisse Fund (Lux) Money Market EURClass B






continued to disappoint on average. Theunemployment rate in the monetary union roseto 11.4% in August which represents a newhistorical unemployment record.

The Citigroup EUR 3 month deposit indexshowed a positive performance in Q3 of 0.11%.During the same time period, the relevant EURLibor curve flattened with 12-month rates downby 53bps to 0.65% and 3-month rates down by50bps to 0.15%.







Portfolio managementRomeo Sakac joined Credit Suisse in 2012. He is a senior portfolio manager and heads Liquidity Solutions within the Fixed Income team. Prior to joiningCredit Suisse Asset Management, he was head Liquidity Solutions at Clariden Leu where he was responsible for the Clariden Leu Money Market Funds,Clariden Leu Floating Rate Strategy Funds and the Clariden Leu Short Term Bond Funds. Romeo began his career at Clariden Leu (former Clariden Bank)in 1998 as a Risk Manager in the Risk Management department, responsible for Equity- and Hedge Funds. He completed a commercial apprenticeshipand holds a certificate of Advanced Studies in Financial Mathematics and Statistics from Lucerne University of Applied Sciences and Arts (IFZ/HSW).

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Fund manager Romeo SakacFund manager since 24/09/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 460.46Inception date 16/08/2011Management fee in % p.a. 0.25Total expense ratio (ex ante) in % 0.33Benchmark (BM) Citigroup EMU EUR 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)



Fund 121


Credit Suisse Fund (Lux) Money Market EURClass I


2007 2008 2009 2010 2011 2012100

102

104

106

108

110

112

114

0%

2%

4%

6%

8%

10%

12%

14%

3.5 3.6

2.00.8 0.8 0.6

4.24.9

1.40.5

1.20.6

CSF (Lux) Money Market EUR I Yearly or year-to-date performance respectively (Fund)Citigroup EMU EUR 3M Euro Dep. Yearly or year-to-date performance respectively (Benchmark)

Former Track record of Orchis EUR Money Market (19.04.2005 - 15.08.2011)




0%5%

10%15%20%25%30%35%40%45%

0-1 1-2 2-3 3-6 6-9 9-12 >12


EUR 100.00 -

Credit Ratings in %

AAA (Bucket) 27.40AA (Bucket) 22.40A (Bucket) 46.80BBB (Bucket) 3.40


%Maturity as % of

assetsRoche 4.625 04/03/13 2.07Siemens 4.125 20/02/13 1.93LKB Baden-W 4.125 15/04/13 1.89NRW Bank 4.250 14/05/13 1.78CS Group 1.152 17/06/13 1.62UBS London 2.375 21/01/13 1.55DeutschePostbank

4.250 16/01/13 1.54

Euromortgage 3.625 25/03/13 1.54Fin. Danish Ind. 2.125 21/03/13 1.53GlaxoSmithKline 5.125 13/12/12 1.53Total 16.98



Asset Allocation in %Bonds with short maturity 70.80Floating-rate Notes (FRN)/(FRMTN) 13.90Commercial Paper 5.40Cash/Cash Equivalents 9.90Total 100.00


Annualised volatility in % 0.15 0.38Information ratio 0.37 -0.75Tracking Error (Ex post) 0.17 0.24Maximum draw down in % 3) 0.00 0.003) Maximum drawdown is the most negative cumulative returnover a given time period.

Investment policyThe investment objective is to achieve anattractive and steady income in EUR based onthe performance of EUR money marketinstruments.The fund will invest in broadly diversified EURmoney market instruments from the investmentgrade area, with emphasis on prime borrowerquality.

Fund facts


Bloomberg ticker CSLMMEI LXNet Asset Value 1,007.67


Number of holdings


128




Credit Suisse Fund (Lux) Money Market EURClass I






continued to disappoint on average. Theunemployment rate in the monetary union roseto 11.4% in August which represents a newhistorical unemployment record.

The Citigroup EUR 3 month deposit indexshowed a positive performance in Q3 of 0.11%.During the same time period, the relevant EURLibor curve flattened with 12-month rates downby 53bps to 0.65% and 3-month rates down by50bps to 0.15%.








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Fund manager Eric SuterFund manager since 01/05/1995Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 841.59Inception date 02/08/2010Management fee in % p.a. 0.05Total expense ratio (ex ante) in % 0.11Benchmark (BM) Citigroup CHF 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 71


Credit Suisse Fund (Lux) Money Market SfrClass B


2007 2008 2009 2010 2011 201299

100101102103104105106107

-1%0%1%2%3%4%5%6%7%

1.5 1.20.6 0.3

-0.10.1

2.4 2.7

0.5 0.2 0.20.0

CSF (Lux) Money Market Sfr B Yearly or year-to-date performance respectively (Fund)Citigroup CHF 3M Euro Dep. Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.00 -0.03 0.13 -0.04 0.61 2.73Benchmark -0.01 -0.02 0.00 0.05 0.44 4.32


0%5%

10%15%20%25%30%35%

0-1 1-2 2-3 3-6 6-9 9-12 >12


CHF 97.13 99.98EUR 2.87 0.02

Credit Ratings in %

AAA 39.99AA+ 13.40AA 8.53AA- 13.77A+ 0.20A-1+ 8.12A-1 16.00




%Maturity as % of

assetsPOLH 2.250 18/02/13 3.03Sociéte Generale 12/11/12 2.97UBS London 18/02/13 2.96CACIB Australia 09/10/12 2.87BNP Paribas 04/02/13 2.85DZ Privatbank 16/10/12 2.85LBK Baden-W 2.250 08/03/13 2.74Standard Chartered 14/03/13 2.72Banque Fed CredMut

25/03/13 2.60

Swedish ExportCred

3.500 15/07/13 2.10

Total 27.69

Asset Allocation in %Covered/ABS 24.38Financial Bonds 19.69Commercial Paper 12.81Government 9.37Sovereign/Agencies 8.50Industrial Bonds 4.21Certificates of Deposit 2.87Utilities 1.49Cash/Cash Equivalents 10.87Others 5.81Total 100.00



Investment policyThe aim of the fund is to achieve a high andsteady income in Swiss francs whilst taking intoaccount the security and stability of the capital.The fund invests at least two-thirds of its assetsin CHF- denominated money market instrumentsas well as in short-dated fixed interest andvariable rate paper with first class borrowerratings. The Fund may hold fixed incomesecurities denominated in other currencies thanthe CHF, however, currency exposure has to befully hedged in CHF.

CS MMF (Lux) Sfr B merged into CSF (Lux)MMF Sfr B as of 30.7.2010

Fund facts


Bloomberg ticker CSFMMSB LXNet Asset Value 714.36


Number of holdings


Average = AA

130




Credit Suisse Fund (Lux) Money Market SfrClass B















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Fund manager Romeo SakacFund manager since 24/09/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 432.66Inception date 16/08/2011Management fee in % p.a. 0.15Total expense ratio (ex ante) in % 0.23Benchmark (BM) Citigroup USD 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 87


Credit Suisse Fund (Lux) Money Market USDClass B


2007 2008 2009 2010 2011 201298

100

102

104

106

108

110

112

-2%

0%

2%

4%

6%

8%

10%

12%

4.2

2.31.4

0.5

0.00.3

5.5

3.4

0.90.3 0.3 0.3

CSF (Lux) Money Market USD B Yearly or year-to-date performance respectively (Fund)Citigroup USD 3M Euro Dep. Yearly or year-to-date performance respectively (Benchmark)

Former Track record of Orchis USD Money Market (19.04.2005 - 15.08.2011)




0%

5%

10%

15%

20%

25%

30%

0-1 1-2 2-3 3-6 6-9 9-12 >12


USD 100.00 -

Credit Ratings in %

AAA (Bucket) 28.50AA (Bucket) 29.00A (Bucket) 42.50


%Maturity as % of

assetsAfrican Dev. Bank 1.625 11/02/13 2.32UBS London 0.000 20/09/13 2.07Austria Reg 2.000 15/11/12 2.03CDC 1.750 26/03/13 1.86EIB 1.625 15/03/13 1.86Aviva 0.000 12/12/12 1.85OEKB 4.750 16/10/12 1.85Toyota MotorFinance

0.000 19/02/13 1.85

BPCE 0.000 18/09/13 1.83ING Bank 0.000 25/09/13 1.83Total 19.35



Asset Allocation in %Bonds with short maturity 52.90Commercial Paper 25.60Floating-rate Notes (FRN)/(FRMTN) 9.30Cash/Cash Equivalents 12.20Total 100.00



Investment policyThe investment objective is to achieve anattractive and steady income in USD based onthe performance of USD money marketinstruments.The fund will invest in broadly diversified USDmoney market instruments from the investmentgrade area, with emphasis on prime borrowerquality.

Fund facts


Bloomberg ticker CSLMMUB LXNet Asset Value 100.18


Number of holdings


132




Credit Suisse Fund (Lux) Money Market USDClass B



contrast to the ECB, there will be no sterilization,and hence the monetary base is set to increase.On top of that, the FOMC said it would probablyhold the federal funds rate near zero at least untilmid-2015.



The Citigroup USD 3 Month Deposit indexshowed a positive performance of 0.10%.During the same time period, the relevant USDLibor curve shifted downwards with 12-monthrates dropping by 10bps to 0.97% and 3-monthrates droping by 10bps to 0.36%.








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Fund manager Daniele PagliaFund manager since 24/03/2006Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 410.02Inception date 24/03/2006Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.20Benchmark (BM)

JPM GBI EMU Investment Grade Traded (08/10)Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Fund (Lux) Relative Return Engineered (Euro)Class B


2007 2008 2009 2010 2011 201295

100105110115120125130135

-5%0%5%

10%15%20%25%30%35%

0.4

9.4

3.6 2.9 4.57.8

1.8

9.4

4.31.2

3.77.4

CSF (Lux) Relative Return Engineered (Euro) B Yearly or year-to-date performance respectively (Fund)JPM GBI EMU Investment Grade Traded (08/10)





USD 93.49 0.60EUR 4.67 99.40AUD 0.39 -CAD 0.33 -CHF 0.27 -GBP 0.19 -HKD 0.16 -SGD 0.13 -JPY 0.12 -Others 0.25 0.00

Credit Ratings in %AAA 18.90AA 33.10BBB+ 7.50BBB 5.70BBB- 31.80BB+ 3.00

Underlying portfolioCash 2.30Hedged equities idx futures 9.60Hedged equities forwards 88.10

Duration and YieldModified duration in years 5.35



Investment policyThe fund's investment objective is to achievea better return than the benchmark on arisk-adjusted basis. The fund syntheticallyreplicates the risk-return dimensions of atraditional bond investment (interest rates, creditand currency) using standard derivatives. Thanksto very liquid markets and low transaction costs,the fund has a high degree of flexibility in theimplementation of its strategy. The investmentstrategy consists of positioning the fund againstthe benchmark along the duration, maturities andcredit dimensions. The risk-return profile of thefund is similar to that of a traditional bond fund.

Fund facts


Bloomberg ticker CRRREEB LXNet Asset Value 132.67



134




Credit Suisse Fund (Lux) Relative Return Engineered (Euro)Class B


During Q3 risky assets performed very well,fuelled by the actions of central banks. Theannouncement of QE3 by the Fed and ofOutright Monetary Transactions (OMT) by theECB led to further credit spread tightening, withhigher beta sectors outperforming (high yield andfinancials sub).

Spread compression in the European sovereignsector was led by Italian and Spanish bonds(+5.8% and +4.1% q-o-q respectively), butGerman Bunds also managed a positive totalreturn (+1.3%). Treasuries were very volatile,but 10 year rates ended the quarter only 8bps

higher. September was a record month for newissues, with EUR 51bn of European investmentgrade non-financials coming to the market. CDSoutperformed cash, leading to a reduction in thebasis. On the currency front the USD lost 1.5%against the EUR.


Markets continue to be driven by central banksand politics. Credit spreads are no longer cheapand the potential for further tightening is limited,but the carry relative to the absolute level ofyields is still attractive. This, as well as the huntfor yield, will keep a lid on credit spreads, so weremain positive.

Central bank liquidity keeps nominal rates low, sothat rising inflation expectations are pushing realrates even lower. We are keeping our durationpositioning shorter than the benchmark due tothe low opportunity costs (very low rates) and theasymmetric risk-return profile.

The macroeconomic backdrop is still bleak in

Europe and we don’t trust the few positive signscoming from the US housing and labor markets.On top of that we have plenty of possiblemarket-wrecking events in Q4, starting with thestill unresolved European situation and endingwith the US elections and fiscal cliff debates.

Portfolio managementDaniele Paglia, Director, is a senior portfolio manager. He heads the Overlay & Engineered Solutions team and is responsible for inflationlinked and derivatives based products. Prior to joining Credit Suisse in 2002, he spent three years as a quantitative fixed income analystand portfolio manager at Zürcher Kantonalbank. Before that the worked for six years at UBS, as a fixed income analyst in Zurich and as adebt market strategist in London. He graduated from the University of Zurich specialising in finance and operations research.

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Fund manager Daniele PagliaFund manager since 24/03/2006Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 410.02Inception date 16/01/2007Management fee in % p.a. 0.50Total expense ratio (ex ante) in % 0.70Benchmark (BM)

JPM GBI EMU Investment Grade Traded (08/10)Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)




Credit Suisse Fund (Lux) Relative Return Engineered (Euro)Class I


2007 2008 2009 2010 2011 201295

100105110115120125130135140

-5%0%5%

10%15%20%25%30%35%40%

9.9

4.2 3.4 5.08.29.4

4.31.2

3.77.4

CSF (Lux) Relative Return Engineered (Euro) I Yearly or year-to-date performance respectively (Fund)JPM GBI EMU Investment Grade Traded (08/10)





USD 93.49 0.60EUR 4.67 99.40AUD 0.39 -CAD 0.33 -CHF 0.27 -GBP 0.19 -HKD 0.16 -SGD 0.13 -JPY 0.12 -Others 0.25 0.00

Credit Ratings in %AAA 18.90AA 33.10BBB+ 7.50BBB 5.70BBB- 31.80BB+ 3.00






Fund facts


Bloomberg ticker CRSRREI LXNet Asset Value 1,361.41



136




Credit Suisse Fund (Lux) Relative Return Engineered (Euro)Class I






Markets continue to be driven by central banksand politics. Credit spreads are no longer cheapand the potential for further tightening is limited,but the carry relative to the absolute level ofyields is still attractive. This, as well as the huntfor yield, will keep a lid on credit spreads, so weremain positive.





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Fund manager Daniele PagliaFund manager since 04/06/2007Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 30. SepTotal net assets (in millions) 187.73Inception date 08/06/2007Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.20Benchmark (BM) SBI Foreign AAA-BBB (RI)Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Fund (Lux) Relative Return Engineered (Sfr)Class B


2007 2008 2009 2010 2011 201295

100

105

110

115

120

125

-5%

0%

5%

10%

15%

20%

25%

6.1

3.0 1.9 2.5 2.31.1

7.9

3.7 2.75.4

CSF (Lux) Relative Return Engineered (Sfr)B


SBI Foreign AAA-BBB (RI)Yearly or year-to-date performance respectively(Benchmark)




USD 90.78 0.10CHF 4.58 99.20EUR 3.17 0.70AUD 0.37 -CAD 0.32 -GBP 0.17 -HKD 0.15 -SGD 0.12 -JPY 0.11 -Others 0.23 0.00

Credit Ratings in %AA 35.80BBB+ 16.00BBB 32.20BBB- 16.00






Fund facts


Bloomberg ticker CRRRESB LXNet Asset Value 117.87



138




Credit Suisse Fund (Lux) Relative Return Engineered (Sfr)Class B






Markets continue to be driven by central banksand politics. Credit spreads don’t look cheapanymore and the potential for further tightening islimited, but the carry relative to the absolute levelof yields is still attractive. This, as well as the huntfor yield, will keep a lid on credit spreads, so weremain positive.





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Fund manager Daniele PagliaFund manager since 16/07/2009Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 60.01Inception date 16/07/2009Management fee in % p.a. 1.00Total expense ratio (ex ante) in % 1.20Benchmark (BM) JPM GBI USA TradedSwinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 6


Credit Suisse Fund (Lux) Relative Return Engineered (US$)Class B


2009 2010 2011 201290

95

100

105

110

115

120

-10%

-5%

0%

5%

10%

15%

20%

4.86.2

1.7

6.1

9.9

2.3

CSF (Lux) Relative Return Engineered (US$)B


JPM GBI USA TradedYearly or year-to-date performance respectively(Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.09 0.53 1.74 2.08 11.15 -Benchmark -0.36 0.59 2.27 3.20 17.73 -


USD 100.00 100.00

Credit Ratings in %A+ 83.30BBB 16.70



Asset Allocation in %Cash/Cash Equivalents 100.00Total 100.00


Annualized volatility in % 2.77 3.88Information ratio -1.28 -2.11Tracking Error (Ex post) 0.85 0.91Maximum draw down in % 3) -1.59 -3.773) Maximum drawdown is the most negative cumulative returnover a given time period.


Fund facts


Bloomberg ticker CSFRRUB LXNet Asset Value 113.96


Number of holdings fixed incomeportfolio


140




Credit Suisse Fund (Lux) Relative Return Engineered (US$)Class B











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Fund manager Daniele PagliaFund manager since 20/03/2006Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 9.66Inception date 24/03/2006Management fee in % p.a. 1.20Total expense ratio (ex ante) in % 1.40Benchmark (BM) LIBOR EUR 3MSwinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Fund (Lux) Total Return Engineered (Euro)Class B


2007 2008 2009 2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

3.1

-0.2

1.3

-5.8 -5.0

-1.3

4.3 4.8

1.3 0.7 1.3 0.5

CSF (Lux) Total Return Engineered (Euro) B Yearly or year-to-date performance respectively (Fund)LIBOR EUR 3M Yearly or year-to-date performance respectively (Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.13 0.10 -1.34 -2.29 -12.51 -9.61Benchmark 0.01 0.08 0.51 0.88 2.78 10.26


USD 79.04 -EUR 12.73 100.00AUD 1.75 -CAD 1.56 -CHF 1.23 -GBP 0.80 -HKD 0.72 -SGD 0.57 -JPY 0.52 -Others 1.08 0.00

Credit Ratings in %AA 100.00



Asset Allocation in %Shares (and equity-type securities) 94.31Open-end Funds 5.69Total 100.00



Investment policyThe fund's investment objective is to achievea positive return regardless of marketdevelopments. The fund synthetically replicatesthe risk-return dimensions of a traditional bondinvestment (interest rates, credit and currency)using standard derivatives. Thanks to particularlyliquid markets and low transaction costs, thefund has a high degree of flexibility in theimplementation of the strategy. The investmentstrategy consists of taking long and shortpositions driven by risk allocation across thevarious risk dimensions and strategies.

Fund facts


Bloomberg ticker CSTREEB LXNet Asset Value 92.91



142




Credit Suisse Fund (Lux) Total Return Engineered (Euro)Class B


From Q2 2012 the fund has been investing themajority of its assets in a portable alpha strategywhich exploits inefficiencies around indexchanges in the equity markets while hedging

systematic market risk. This total return strategyis uncorrelated with equity markets and producesbond-like returns. This strategy is also used insmall proportions (up to 10%) for return

enhancement in the Relative Return Engineeredfunds.







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Fund manager Giuseppe PataraFund manager since 01/05/2012Location MilanFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 47.48Inception date 30/06/2005Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.70Performance fee in % with HighwatermarkBenchmark (BM) LIBOR EUR 3MUnit Class Category B

(capital growth)


EU taxation In scope - tax


Credit Suisse Fund (Lux) Target Volatility (Euro)Class B


05/2012 06/2012 07/2012 08/2012 09/201297

98

99

100

101

102

CSF (Lux) Target Volatility (Euro) BLIBOR EUR 3M


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.46 2.71 - - - -Benchmark 0.01 0.08 - - - -

Asset allocation in %Cash/Cash Equivalents Bonds Equity Alt. Inv. Total

USA 0.00 2.10 2.40 - 4.50Euroland 3.70 64.12 6.60 - 74.42Emerging Markets - 4.60 3.30 - 7.90Switzerland - 2.18 - - 2.18Global - 6.10 - - 6.10Others - - - 4.90 4.90Total 3.70 79.10 12.30 4.90 100.00

Allocation asset classes in %

Bonds 79.10Equity 12.30Alternatives 4.90Cash/CashEquivalents 3.70

DurationGross portfolio yield in % 1.62Average remaining term to maturity in years 1.47Modified duration in years 2.68



Asset allocation in %Fixed Income 58.53Open-end Funds 38.31Index Investments 3.16Total 100.00

Allocation currencies in %

EUR 90.10USD 9.86CHF 0.03GBP 0.01


%Maturity as % of

assetsCS Fund Bd. ShortMat. EUR

8.93

Italy BTP 0.000 31/01/14 6.56Italy 2.000 01/06/13 6.34DB X-Trackers 6.14CSF (L) MM EUR 5.63EIB 2.875 15/07/16 4.57EIB 1.625 15/01/15 4.35Ishares DAX 4.14Italy 2.000 15/12/12 3.59Aberdeen EM Eq Fd 3.28Total 53.53

Investment policyThis Fund is actively managed and aims toachieve the highest possible return in EUR whilenot exceeding a target risk level. The Fundinvests mainly in equities and equity-typesecurities, fixed income securities, money marketinstruments and other funds. The investor canbuy or sell units of the Fund on a daily(Luxembourg bank business days) basis. ThisUnit Class does not make regular distributions.The Fund shall bear the costs of standardbrokerage and bank charges incurred by theFund through securities transactions in relation tothe portfolio. These charges are not included inthe "Charges" section of this document.

Repositioning as per April 17, 2012. (Old Fundname: Credit Suisse Fund (Lux) Total ReturnGlobal Long/Short Exposure (Euro))

Fund facts


Bloomberg ticker CSTRGEB LXNet Asset Value 93.51

Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15


144




Credit Suisse Fund (Lux) Target Volatility (Euro)Class B


Developments in capital markets stayedpredominantly benign during the summermonths, resulting in a very satisfying investmentoutcome that saw risk assets lead theperformance rankings as expected. It all startedwhen ECB President Mario Draghi surprised themarkets pleasantly with his pledge to do“whatever it takes” within the ECB’s mandate topreserve the euro.

During June, as volatility plummeted, we hadincreased the weighting of European equities,which saw sharp price falls in the previous two

and a half months. These purchases allowed usto bring risk exposure back to our target level.The positions were mainly invested in GermanDax index and Eurostoxx ETF. The fundbenefited massively from the positive sentimentin the markets both in July and August, sustainedby the scarcity of investment opportunities in theface of ultra-low interest rates, and the far tooconservative positioning of most investors. In thisscenario, both equity exposure as well ascorporate bonds contributed positively to thefund’s performance. At the end of August, facinga volatile September full of event risks, we took

marginal profits from UK equity positions andslightly reduced the risk budget usage level. Theeventful month of September passed withoutnegative surprises, keeping the overall volatilitylevel in the markets low.

At a portfolio level, we took the opportunity tofurther adjust the fixed income part of theportfolio to our rather constructive scenario forthe medium term, reducing some positions ingovernment bonds in favor of corporate bondsand keeping overall duration low.


We fundamentally expect to see furtherstabilization in risky markets and, even if volatilitymay rise in the next few weeks from currentultra-low levels, we feel comfortable with currentrisk budget usage. Any market setback mayprove to be a buying opportunity, though risksfor the last quarter of the year should not beunderestimated: along-side the implementationrisks about a eurozone banking union and furtherassistance for Greece, it is mainly geopoliticalrisks and talk surrounding the upcoming US

elections and fiscal cliff that are keeping a lidon investor euphoria. Further stabilization in thedeveloped economies at a macroeconomic levelshould at the margin be supportive for marketsentiment. At the same time, aligned policiesfrom monetary authorities at a global level shouldkeep “hunt for yield” mode for investors on forthe next months and quarters and sustaincorporate and emerging markets bond.

On the currency front, we continue to foresee

hardly any movements due to the lack ofinterest-rate differentials, so we are abstainingfrom taking strong positions in this space.Commodities remain neutrally weighted in viewof the still fragile macroeconomic situation. Ourposition in gold, which has exerted a positiveperformance impact, remains in place, largely inview of the accommodative central bank policiesthat provide fertile ground for a sustained climateof negative real interest rates and thus forpotential further gold price advances.

Portfolio managementGiuseppe Patara, Vice President, is Portfolio Manager within the Multi Asset Class Solutions (MACS) investment team of Credit Suisse Asset Management.Giuseppe holds a Master in Financial Economics with major in quantitative finance from Rotterdam University and he is graduated in Economics fromBocconi University in Milan. He is CFA chart holder and active member of CFA Society Italy. Giuseppe joined Credit Suisse in 2005 and he has beenmanaging private and institutional portfolios since then, focusing on asset allocation for balanced, risk limit oriented and total return products. He has alsobeen working as portfolio manager inside the APAC investment team of Credit Suisse Asset Management in Singapore

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Fund manager Giuseppe PataraFund manager since 01/05/2012Location MilanFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 47.48Inception date 22/08/2006Management fee in % p.a. 0.60Total expense ratio (ex ante) in % 0.90Performance fee in % with HighwatermarkBenchmark (BM) LIBOR EUR 3MUnit Class Category I (capital

growth)


Min. Init. Investm. Amount (in mill.) 3EU taxation In scope - tax


Credit Suisse Fund (Lux) Target Volatility (Euro)Class I


05/2012 06/2012 07/2012 08/2012 09/201298

99

100

101

102

CSF (Lux) Target Volatility (Euro) ILIBOR EUR 3M


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.51 2.87 - - - -Benchmark 0.01 0.08 - - - -










EUR 90.10USD 9.86CHF 0.03GBP 0.01


%Maturity as % of


8.93


Investment policyThis Fund is actively managed and aims toachieve the highest possible return in EUR whilenot exceeding a target risk level. The Fundinvests mainly in equities and equity-typesecurities, fixed incomes securities, moneymarket instruments and other funds. Each assetclass may account for 100% of the fund´s netassets at any time. In addition up to 30% of thefund´s net assets may be invested in emergingmarket issues and up to 30% in futures oncommodities indices. For the purposes ofachieving the desired market exposure as well asfor improving efficiency in portfolio management,the fund may use derivative instruments on abroad scale, although, in doing so, the fund maynot become leveraged at any point.


Fund facts


Bloomberg ticker CSTRGEI LXNet Asset Value 881.78

Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15


146




Credit Suisse Fund (Lux) Target Volatility (Euro)Class I













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Fund manager Giuseppe PataraFund manager since 01/05/2012Location MilanFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 47.48Inception date 17/04/2012Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.45Performance fee in % with HighwatermarkUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund (Lux) Target Volatility (Euro)Class R

Net performance in CHF (rebased to 100) 1)











EUR 90.10USD 9.86CHF 0.03GBP 0.01



%Maturity as % of


8.93




Fund facts


Bloomberg ticker CSTRGRC LXNet Asset Value 91.86

Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15

148

















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149

Fund manager Christopher Burton, Nelson LouieFund manager since 09/12/2005, 19/08/2010Location New York, New YorkFund domicile LuxembourgFund currency USDClose of financial year 31. OctTotal net assets (in millions) 301.07Inception date 31/07/2009Management fee in % p.a. 0.40Total expense ratio (ex ante) in % 0.56Benchmark (BM) DJ-UBS Commodity Index (RI)Unit Class Category I (capital

growth)




Credit Suisse Nova (Lux) Commodity Plus USDClass I


2009 2010 2011 201280

90

100

110

120

130

140

-20%

-10%

0%

10%

20%

30%

40%

16.7

-14.2

6.1

16.8

-13.3

5.6

CS Nova (Lux) Commodity Plus USD I Yearly or year-to-date performance respectively (Fund)DJ-UBS Commodity Index (RI) Yearly or year-to-date performance respectively (Benchmark)






%Maturity as % of

assetsUS Treasury 0.625 30/04/13 3.99Fannie Mae 0.198 08/11/13 3.98T-NTS United Statesof Am.

1.375 15/05/13 3.35

US Treasury 1.000 15/07/13 3.34FFCB 0.380 19/05/14 3.33US Treasury 1.375 15/01/13 3.33US Treasury 0.500 31/05/13 3.33Fannie Mae 0.249 20/12/12 3.32Federal Home LoanBank

0.370 15/03/13 3.32

FFCB 0.257 13/02/15 3.32Total 34.61

Investment policyThe aim of the Fund is to achieve the highestpossible capital appreciation by investing incommodity-linked derivative instruments. Adiversified portfolio of USD-denominatedshort-term fixed income and money marketinstruments is used as collateral. Its lowcorrelation with traditional asset classes makesthe Fund an ideal portfolio diversificationinstrument. Furthermore, it offers goodprotection from inflation risks in the event of arise in commodity prices.

Repositioning on 01.07.2009 (Old name: CSNova (Lux) Commodity Plus (£))

Fund facts


Bloomberg ticker CSNLCPI LXNet Asset Value 1,172.62




150




Credit Suisse Nova (Lux) Commodity Plus USDClass I










to continue do so.



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Fund manager Giuseppe PataraFund manager since 01/05/2012Location MilanFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 47.48Inception date 17/04/2012Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.45Performance fee in % with HighwatermarkUnit Class Category R - hedged

(capital growth)





Net performance in USD (rebased to 100) 1)











EUR 90.10USD 9.86CHF 0.03GBP 0.01



%Maturity as % of


8.93




Fund facts


Bloomberg ticker CSTRCRU LXNet Asset Value 97.94

Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 10-15 >15

152

















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Purchases Sales- -

Fund manager Andreas Müller, Patrick SpadaFund manager since 01/07/2012, 01/07/2012Location Zürich, ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. OctTotal net assets (in millions) 263.02Inception date 29/02/2008Management fee in % p.a. 1.00Benchmark (BM) 2)

CB CS Nova (Lux) Enhanced Fixed Income (CHF)Unit Class Category B

(capital growth)




Credit Suisse Nova (Lux) Enhanced Fixed Income (CHF)Class B


2008 2009 2010 2011 201280

90

100

110

120

130

140

-20%

-10%

0%

10%

20%

30%

40%

8.03.3 1.9

7.8

28.0

7.53.4

8.1

CS Nova (Lux) Enhanced Fixed Income (CHF)B


CB CS Nova (Lux) Enhanced Fixed Income(CHF)




Credit Ratings in %

AAA 18.63AA 18.39A 6.22BBB 16.28BB 17.43B 15.71CCC 3.20C 0.67Not rated 3.47

Top 10 holdings in %Position as % of

assetsAXA AWF Global Infl. Bd 16.48Aberdeen Em Mkt Bd Fd 13.85Pictet Fd EM Local Curr Debt 11.96CS FI Global ABS 10.90CS SIF Gl. Infl. linked CHF 9.99Aviva Global High Yield Bd 7.69Neuberger Berman high Yield BD Fd. 7.18MFS Meridian EM Debt Fd 7.17Fidelity US High Yield 6.84Nordea Mult Eur. High Yld 5.76Total 97.82

Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 >10


CHF 53.01 82.43USD 40.65 1.71EUR 6.34 0.91Others 0.00 14.95


Asset Allocation in %Emerging Market Debt 33.00High Yield Bonds 27.50Inflation Linked Bonds 26.40Covered/ABS 10.90Cash/Cash Equivalents 2.20Total 100.00

Investment policyInvestment objective is to achieve the highestpossible return in CHF by investing worldwidein a diversified fixed income fund portfolio withexposure to government bonds, corporates,emerging markets, High Yield, ABS, MBS andConvertibles.

Fund facts


Bloomberg ticker CSNEFBS LXNet Asset Value 107.40

2) BM composition:Barclays World Inflation linked (hedged) 24%,Barclays EUR ABS Flat x UK x Spain (RI, hedged) 14%,Barclays US ABS FRN ex HE (RI) 14%,ML US High Yield Master II Constrained (RI, hedged) 14%,ML Euro High Yield Constrained (RI, hedged) 6%,JBM EMBI Global (hedged) 19.6%,JBP GBI-EM Broad Diversified Traded 8.4%





154



Purchases Sales- AXA WORLD SICAV- GLOBAL INFLATION BOND a

Fund manager Andreas Müller, Patrick SpadaFund manager since 01/07/2012, 01/07/2012Location Zürich, ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. OctTotal net assets (in millions) 302.50Inception date 29/02/2008Management fee in % p.a. 1.00Benchmark (BM) 2)

CB CS Nova (Lux) Enhanced Fixed Income (EUR)Unit Class Category B

(capital growth)




Credit Suisse Nova (Lux) Enhanced Fixed Income (EUR)Class B


2008 2009 2010 2011 201280

90

100

110

120

130

140

150

-20%

-10%

0%

10%

20%

30%

40%

50%

15.4

6.92.7

8.4

27.9

9.54.9

8.4

CS Nova (Lux) Enhanced Fixed Income (EUR)B


CB CS Nova (Lux) Enhanced Fixed Income(EUR)




Credit Ratings in %

AAA 18.48AA 18.37A 6.59BBB 16.41BB 17.41B 15.41CCC 3.14CC 0.65Not rated 3.54


assetsAXA AWF Global Infl. Bd 16.38Aberdeen Em Mkt Bd Fd 13.65Pictet Fd EM Local Curr Debt 12.13CS FI Global ABS 10.98CS SIF Gl. Infl. linked EUR 10.59Neuberger Berman high Yield BD Fd. 7.82MFS Meridian EM Debt Fd 7.60Fidelity US High Yield 7.38Aviva Global High Yield Bd 6.49Nordea Mult Eur. High Yld 5.18Total 98.20

Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 >10


EUR 57.76USD 27.16Others 15.08


Asset Allocation in %Emerging Market Bonds 33.40Inflation Linked Bonds 27.00High Yield Bonds 26.70Covered/ABS 11.00Cash/Cash Equivalents 1.90Total 100.00

Investment policyInvestment objective is to achieve the highestpossible return in EUR by investing worldwidein a diversified fixed income fund portfolio withexposure to government bonds, corporates,emerging markets, High Yield, ABS, MBS andConvertibles.

Fund facts


Bloomberg ticker CSNEFBE LXNet Asset Value 122.76






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Purchases Sales- -

Fund manager Andreas Müller, Patrick SpadaFund manager since 01/07/2012, 01/07/2012Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. OctTotal net assets (in millions) 111.24Inception date 29/02/2008Management fee in % p.a. 1.00Benchmark (BM) 2)

CB CS Nova (Lux) Enhanced Fixed Income (USD)Unit Class Category B

(capital growth)




Credit Suisse Nova (Lux) Enhanced Fixed Income (USD)Class B


2008 2009 2010 2011 201290

100

110

120

130

140

150

-10%

0%

10%

20%

30%

40%

50%

12.57.7

2.18.2

26.5

9.14.4

8.6

CS Nova (Lux) Enhanced Fixed Income (USD)B


CB CS Nova (Lux) Enhanced Fixed Income(USD)




Credit Ratings in %

AAA 18.28AA 18.01A 6.07BBB 16.44BB 17.77B 16.02CCC 3.24CC 0.64Not rated 3.53


assetsAXA AWF Global Infl. Bd 16.26Aberdeen Em Mkt Bd Fd 14.17Pictet Fd EM Local Curr Debt 11.29CS FI Global ABS 10.64CS SIF Gl. Infl. linked USD 9.82Neuberger Berman high Yield BD Fd. 7.96MFS Meridian EM Debt Fd 7.88Aviva Investors Gl HY Fd A USD 7.85Fidelity US High Yield 6.45Nordea Mult Eur. High Yld 5.53Total 97.85

Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 >10


USD 80.35EUR 5.31Others 14.34


Asset Allocation in %Emerging Market Debt 33.40High Yield Bonds 27.80Inflation Linked Bonds 26.10Covered/ABS 10.60Cash/Cash Equivalents 2.10Total 100.00

Investment policyInvestment objective is to achieve the highestpossible return in USD by investing worldwidein a diversified fixed income fund portfolio withexposure to government bonds, corporates,emerging markets, High Yield, ABS, MBS andConvertibles.

Fund facts


Bloomberg ticker CSNEFBD LXNet Asset Value 132.12






156



-0.115.01

-1.31-1.95

1.970.21

-3.95-0.65-0.59

1.36

Purchases SalesUNI-GLOBAL SICAV-MINI VARIANCE EMERG b1

ALLIANZ GLOBAL INVESTOR CHINA FUND a-BLACKROCK LATIN AMERICAN OPPORTUNITIE a2

Fund manager Andreas MüllerFund manager since 01/07/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. OctTotal net assets (in millions) 450.04Inception date 17/11/2008Management fee in % p.a. 0.90Benchmark (BM) MSCI EM (NR)Unit Class Category B

(capital growth)




Credit Suisse Nova (Lux) FoF Equity Emerging MarketsClass B


2008 2009 2010 2011 20120

50

100

150

200

250

-100%

-50%

0%

50%

100%

150%

73.0

16.0

-20.4

10.0

78.5

18.9

-18.4

12.0

CS Nova (Lux) FoF Equity Emerging MarketsB


MSCI EM (NR)Yearly or year-to-date performance respectively(Benchmark)




Financials 24.80 24.91Consumer Staples 13.46 8.45Information Technology 12.64 13.95Energy 11.13 13.08Consumer Discretionary 10.00 8.03Telecommunication Services 8.32 8.11Materials 8.04 11.99Industrials 6.00 6.65Utilities 3.00 3.59Health Care 2.61 1.25



Countries in %

China 21.50Brazil 13.95South Korea 10.28India 7.50Mexico 5.82South Africa 5.21Taiwan 5.17Russia 3.97Rest ofEmergingMarkets 13.86Others 12.74

Significant Transactions Top 10 holdings in %Aberdeen EM Eq Fd 18.94Fidelity Funds Emerging Markets 14.05T Rowe Pr. Fd. Asia ex-Japan 13.07MFS Meridian Latin Am Eq Fd 8.71Uni Global Minimum Variance Japan 7.87Skandia Pacific Equity 7.19Traditional Fd. TR East. Europ. 5.22Allianz China Fund 4.88Fidelity Emerg Asia 4.56Magna Latin American 4.35Total 88.84

Investment policyThe investment objective of this Subfund is, inaccordance with the principle of risk-spreading,to obtain the highest possible capital appreciationin the reference currency by investing in adiversified portfolio of equity investment fundswhich themselves invest their assets primarily inequities or equity-type securities of companieswhich have their registered office, or conductan overwhelming majority of their businessoperations in emerging countries.

Fund facts


Bloomberg ticker CSNEMKB LXNet Asset Value 194.59


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Credit Suisse Nova (Lux) FoF Equity Emerging MarketsClass B


Although the global economy didn’t improve inleaps and bounds in August, the sustainedstabilization tendencies seen in the wake of thenoticeable spring slowdown in economic activitywere viewed positively by the markets. Theirfriendly reaction can be attributed to the ongoingdichotomy between robust personal consumptionand relatively weak manufacturing activity, aswell as to significantly expanded monetary policyactions. If personal consumption can continuegrowing at the present pace, decreasinginventory stockpiles in the months ahead will

automatically spark a noticeable pick-up inindustrial production. Emerging markets stockwere sought and showed positive reaction to thecentral bank moves in the developed world.

The macro environment remains challenging withglobal growth fading and many unansweredissues in the eurozone. This backdrop continuesto dictate the direction and magnitude of movesin the emerging market area. Many investorskeep swaying from “risk-off” to “risk-on” modeswhile the latter have become increasingly brief

and intense. This applies in particular toemerging market equities, which remain volatileand are struggling to perform.

While European and US equities haveexperienced a stellar rally since their May lows,the recovery in emerging market equities hasbeen rather fainthearted. From an economicperspective, this is puzzling given that theprospects for emerging market countries remainin much better shape than for G10 countries.


Looking ahead, we have reason to believe thatemerging market equities might come Lookingahead, we have reason to believe that emergingmarket equities might come back into favor bothbecause the prospect of further unconventionaleasing will generally support equities andbecause of counter-cyclical policies in emergingmarket countries themselves.

We have seen a renewed round of looser

monetary policy lately. But the drop in inflationover the last few months has been such thatmany central banks still have ample leeway toease further. In fact, average real rates in mostemerging economies have risen slightly in recentmonths. In China, we think economic growthshould stabilize, with Beijing turningaccommodative with both monetary and fiscalpolicy. House prices have bottomed in mostprovinces and sales have started to rise as

inventory destocking has ensued. However, anumber of hurdles are expected until the endof the year. The confirmation, that the ECB isprepared to “do whatever it takes” and buyperipheral bonds looks encouraging and could bea game changer in terms of sentiment in Q4. Thefinal hurdle, of course, will be the US electionand the impending “fiscal cliff”.

Portfolio managementAndreas Müller, Vice President, works in the Private Mandates team and is responsible for fund of fund portfolios as well as fixed income and commodityfunds selection and research. Prior to that, he worked in Sydney (Australia) for almost 3 years where he was a portfolio manager for local Australian MultiAsset Class-portfolios, and as an analyst/strategist for discretionary mandates before that. Before joining Credit Suisse in 2005, Andreas was with UBSGlobal Asset Management where he was responsible for the management of equities for balanced mutual funds and institutional mandates with assets ofabout $25bn. Andreas has a Master in Business Administration from the University of Zurich, holds a diploma as a Chartered European Financial Analystfrom the Swiss Training Centre for Investment Professionals and has more than 14 years of investment experience.


158

2.89-1.45

2.67-5.66

6.61-0.79

0.40-2.12-1.89-0.68

Purchases SalesINVESCO JAPANESE EQUITY ADVANTAGE FUND a

SISF - JAPANESE EQUITY ALPHA a

Fund manager Patrick SpadaFund manager since 01/07/2012Location ZürichFund domicile LuxembourgFund currency JPYClose of financial year 31. OctTotal net assets (in millions) 12,814.01Inception date 12/11/2008Management fee in % p.a. 0.90Benchmark (BM) MSCI Japan (NR)Unit Class Category B

(capital growth)




Credit Suisse Nova (Lux) FoF Equity JapanClass B

Net performance in JPY (rebased to 100) and yearly performance 1)

2008 2009 2010 2011 20125060708090

100110120130

-50%-40%-30%-20%-10%

0%10%20%30%

9.3

0.0

-16.1

-0.1

9.1

0.6

-18.7

3.4

CS Nova (Lux) FoF Equity Japan B Yearly or year-to-date performance respectively (Fund)MSCI Japan (NR) Yearly or year-to-date performance respectively (Benchmark)

Net performance in JPY 1)

1 month 3 months YTD 1 year 3 years 5 yearsFund 1.53 -3.84 -0.15 -4.04 -16.99 -Benchmark 1.67 -3.32 3.41 -0.76 -14.55 -


Industrials 23.07 20.18Consumer Discretionary 17.88 19.33Information Technology 14.05 11.38Financials 13.11 18.77Materials 13.07 6.46Health Care 6.53 7.32Telecommunication Services 5.39 4.99Consumer Staples 4.91 7.03Utilities 1.07 2.96Energy 0.92 1.60



Countries in %

Luxembourg 57.32Ireland 41.32Others 1.36

Significant Transactions Top 10 holdings in %Invesco Jap. Equ. 20.73Nomura Japan Strategic Value 18.53Skandia Global Japanese Equity Fd 12.46DB Platinum IV Croci Japan 12.18Uni Global 11.72Polar Capital 10.25Henderson Japan 6.76JPMorgan Japan 5.83Total 98.46

Investment policyThe investment objective of this Subfund is, inaccordance with the principle of risk-spreading,to obtain the highest possible capitalappre-ciation in the reference currency byinvesting in a diversified portfolio of equityinvestment funds which themselves invest theirassets primarily in equities or equity-typesecurities of companies which have theirregistered office, or conduct an overwhelmingmajority of their business operations, in Japan.

Fund facts

Unit class currency JPY

Bloomberg ticker CSNFFJB LXNet Asset Value 9,556.00


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Credit Suisse Nova (Lux) FoF Equity JapanClass B


Although the global economy didn’t improve inleaps and bounds in August, the sustainedstabilization tendencies seen in the wake of thenoticeable spring slowdown in economic activitywere viewed positively by the markets. Theirfriendly reaction can be attributed to the ongoingdichotomy between robust personal consumptionand relatively weak manufacturing activity, aswell as to significantly expanded monetary policyactions. If personal consumption can continuegrowing at the present pace, decreasinginventory stockpiles in the months ahead will

automatically spark a noticeable pick-up inindustrial production.

The Japanese equity market was a typicalsummer market in August, with volumes low andprices moving sideways. The TOPIX price indexwas almost flat, dropping 0.6% to end August at731.64 in local currency terms. However, Japanunderperformed other major developed equitymarkets as the risk of a harder landing in Chinaweighed on Japanese equities towards the endof Q3. Q2 GDP data, released on 13 August,

suggested economic activity in Japan was heldback by external factors. In the April-Junequarter, real GDP growth came in at 1.4%,undershooting the Bloomberg consensusforecast of 2.3%. Export growth slowed, whileimports picked up due to higher demand fornatural liquid gas, used for thermal electric powergeneration in the summer peak season. Personalspending growth was sluggish, inching up by0.1%.


In the near term, external factors are likely toremain key for Japanese equity marketperformance. Early September has broughtlong-awaited policy actions, most notably theECB’s announcement of its Outright MonetaryTransactions scheme, under which it can makeunlimited purchases of short-term governmentbonds with the aim of avoiding a euro breakup.The Fed also launched open-ended quantitative

easing “to support a stronger economic recovery”(Federal Open Market Committee Statement,September 13, 2012). The wave of monetaryeasing is also expanding in Japan, where theBoJ has decided to step up its asset purchaseprogram by JPY 10tn.

It is also reported that the Chinese governmenthas approved infrastructure spending plans

totaling CNY 1tn (approximately USD 160bn),equivalent to 2.1% of China’s 2011 GDP. Thesepolicy responses could eventually boost investorsentiment, correcting significant valuationanomalies at the stock level, weakening therestrictively expensive Japanese yen andboosting the overall performance of Japaneseequities.

Portfolio managementPatrick Spada works in the Private Mandate team and is managing fund of fund portfolio and is responsible for the global convertible bond funds, globalinflation-linked bond funds and us equity funds selection and research. Patrick Spada joined CSAM in 2004,when he took charge of the product management for the Global Investment Program. From 2007 he was Portfolio Manager for a fund-based Total ReturnMandate. Patrick has studied economics at the University of Applied Sciences and is a Certified International Investment Analyst (CIIA).


160

Fund manager Urs HillerFund manager since 01/03/2002Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 297.28Inception date 30/10/1998Management fee in % p.a. 1.50Total expense ratio (ex ante) in % 1.69Benchmark (BM) CB CS PF (Lux) Balanced (Euro)Unit Class Category B

(capital growth)




Credit Suisse Portfolio Fund (Lux) Balanced (Euro)Class B


2007 2008 2009 2010 2011 201270

80

90

100

110

120

130

-30%

-20%

-10%

0%

10%

20%

30%

-1.5

-22.0

18.612.7

-5.6

9.4

1.1

-20.2

16.811.6

-2.9

9.8

CS PF (Lux) Balanced (Euro) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Balanced (Euro) Yearly or year-to-date performance respectively (Benchmark)




Equity 47.85Bonds 37.05Alternatives 12.06Cash/CashEquivalents 3.04


EUR 59.62USD 23.69JPY 3.99GBP 2.59AUD 2.58CAD 2.37HKD 1.59KRW 0.60Others 2.97

Asset allocation in %Cash/Cash Equivalents Currency Overlay Bonds Equity Alt. Inv. Total

Euroland 3.01 5.11 31.29 21.78 2.86 64.05Canada - -0.54 0.23 1.90 - 1.59Asia - -1.23 1.01 1.84 - 1.62USA - -0.81 1.61 12.82 3.79 17.41Japan - -2.50 1.70 1.93 1.73 2.86Others - - 0.78 - 3.67 4.45Switzerland - - 0.13 0.12 - 0.25UK - - 0.69 3.14 - 3.83Emerging Markets - - - 3.94 - 3.94Total 3.01 0.03 37.44 47.47 12.05 100.00

Duration and YieldGross portfolio yield in % 1.22Average remaining term to maturity in years 3.59Modified duration in years 3.16

Allocation of bonds in %Shares (and equity-type securities) 50.77Fixed Income 39.74Open-end Funds 5.70Index Investments 3.78Closed-end Funds 0.01Total 100.00


%Maturity as % of

assetsETFS ETC on Gold 3.68DB X-Trackers 2.03Rabobank 4.250 22/04/14 1.69CS SICAV OneEurop Eq. Div. Plus

1.61

HSBC Finance 0.662 28/10/13 1.01CSF Comdty Ind. Pl. 0.96Germany 1.500 15/04/16 0.84Germany 2.250 15/04/13 0.81CS Sicav One (L)Glob. Convert.

0.78

Roche 4.625 04/03/13 0.77Total 14.18

Investment policyThe aim of the fund is to achieve the highestpossible total return in EUR by investingworldwide, in principle with equal allocations inequities, equity-type securities and fixed orvariable rate securities. The proportion of thefund's assets invested in equities and equity-typesecurities may vary between 30% and 60%.In addition, money market instruments may beheld on an ancillary basis. The fund may alsoinvest a maximum of 20% in real estate andcommodities.

Fund facts


Bloomberg ticker CSPLBAL LXNet Asset Value 140.07



Maturities in years

0%

5%

10%

15%

20%

25%

0-1 1-3 3-5 5-7 7-10 >10


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161


Credit Suisse Portfolio Fund (Lux) Balanced (Euro)Class B


Q3 continued to be overshadowed by the debtcrisis in Europe, although the statements by ECBPresident Mario Draghi that it would be on handto rescue the euro within the scope of itsmandate had an exceptionally positive effect onthe financial markets.

We entered the quarter with a slight overweight

in equities, which proved its worth. However,the underweight in bonds and the short durationfailed to pay off. In August, we again increasedthe equity allocation in Europe to a significantoverweight. In September, we took profits inEuropean stocks and slightly reduced ouroverweight in equities. We are now modestlyoverweight in Canada. Conversely, we reduced

emerging markets to neutral and slightly raisedour underweights in Switzerland and the US.

In bonds, we took advantage of the highlypositive trend to review our holdings with regardto their risk/return profile. We replaced a numberof bonds that had become too expensive andsold less liquid holdings.


We remain moderately positive on the globaleconomic trend. Although the risk of a globalrecession remains, it is unlikely to come aboutdue to the determined stance taken by central

banks. We therefore expect short-term interestrates to remain stuck around zero. We are alsomaintaining our underweights in bonds as wellas in duration. On the equities front, we are

retaining our slight overweight for the time being.We favor the eurozone and the UK, whileunderweighting Switzerland and the US. Wehave a neutral position within currencies.

Portfolio managementMr Hiller graduated from the Business School of Zurich with a B.A. in Economics. He is a Certified EFFAS Financial Analyst. He joinedCredit Suisse Group in 1994 as a portfolio manager for Swiss Volksbank's Portfolio Funds. Since 1997 he has been a member of theCredit Suisse Portfolio Fund (Lux) management team.


162

Fund manager Urs HillerFund manager since 16/03/2006Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. MarTotal net assets (in millions) 1,278.13Inception date 14/05/1993Management fee in % p.a. 1.50Total expense ratio (ex ante) in % 1.69Benchmark (BM) CB CS PF (Lux) Balanced (Sfr)Unit Class Category B

(capital growth)




Credit Suisse Portfolio Fund (Lux) Balanced (Sfr)Class B


2007 2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%

-0.7

-25.2

16.7

1.1

-6.7

8.6

0.5

-25.0

17.0

2.2

-4.1

9.2

CS PF (Lux) Balanced (Sfr) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Balanced (Sfr) Yearly or year-to-date performance respectively (Benchmark)






CHF 39.45USD 27.10EUR 14.38JPY 4.30GBP 4.13CAD 3.09AUD 2.50HKD 1.63Others 3.42


Switzerland 2.98 16.32 23.22 12.81 0.20 55.53Asia - -0.99 1.09 1.49 - 1.59Euroland - -9.06 5.03 6.63 3.18 5.78UK - -0.91 0.69 3.82 - 3.60Canada - -1.09 1.00 1.75 - 1.66USA - -2.06 2.73 14.83 4.11 19.61Japan - -2.21 1.28 2.53 1.80 3.40Others - - 0.66 - 3.88 4.54Emerging Markets - - - 4.29 - 4.29Total 2.98 0.00 35.70 48.15 13.17 100.00

Investment policyThe aim of the fund is to achieve the highestpossible total return in CHF by investingworldwide, in principle with equal allocations inequities, equity-type securities and fixed orvariable rate securities. The proportion of thefund's assets invested in equities and equity-typesecurities may vary between 30% and 60%.In addition, money market instruments may beheld on an ancillary basis. The fund may alsoinvest a maximum of 20% in real estate andcommodities.

Fund facts


Bloomberg ticker CRSPBSI LXNet Asset Value 167.29

Maturities in years

0%5%

10%15%20%25%30%35%

0-1 1-3 3-5 5-7 7-10 >10






%Maturity as % of

assetsETFS ETC on Gold 3.89Nestlé 2.82DB X-Trackers 2.15Roche 1.94Novartis 1.92CS SICAV OneEurop Eq. Div. Plus

1.38

ABB 0.77CSF Comdty Ind. Pl. 0.76Apple 0.75Germany 1.500 15/04/16 0.68Total 17.06


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Credit Suisse Portfolio Fund (Lux) Balanced (Sfr)Class B













164

Fund manager Urs HillerFund manager since 16/03/2006Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. MarTotal net assets (in millions) 1,278.13Inception date 10/04/2012Management fee in % p.a. 0.60Total expense ratio (ex ante) in % 0.76Benchmark (BM) CB CS PF (Lux) Balanced (Sfr)Unit Class Category I (capital

growth)




Credit Suisse Portfolio Fund (Lux) Balanced (Sfr)Class I






CHF 39.45USD 27.10EUR 14.38JPY 4.30GBP 4.13CAD 3.09AUD 2.50HKD 1.63Others 3.42


Switzerland 2.98 16.32 23.22 12.81 0.20 55.53Asia - -0.99 1.09 1.49 - 1.59Euroland - -9.06 5.03 6.63 3.18 5.78UK - -0.91 0.69 3.82 - 3.60Canada - -1.09 1.00 1.75 - 1.66USA - -2.06 2.73 14.83 4.11 19.61Japan - -2.21 1.28 2.53 1.80 3.40Others - - 0.66 - 3.88 4.54Emerging Markets - - - 4.29 - 4.29Total 2.98 0.00 35.70 48.15 13.17 100.00

Investment policyThe aim of the fund is to achieve the highestpossible total return in CHF by investingworldwide, in principle with equal allocations inequities, equity-type securities and fixed orvariable rate securities. The proportion of thefund's assets invested in equities and equity-typesecurities may vary between 30% and 60%.In addition, money market instruments may beheld on an ancillary basis. The fund may alsoinvest a maximum of 20% in real estate andcommodities.

Fund facts


Bloomberg ticker CRSPBBI LXNet Asset Value 1,055.37

Maturities in years

0%5%

10%15%20%25%30%35%

0-1 1-3 3-5 5-7 7-10 >10






%Maturity as % of

assetsETFS ETC on Gold 3.89Nestlé 2.82DB X-Trackers 2.15Roche 1.94Novartis 1.92CS SICAV OneEurop Eq. Div. Plus

1.38

ABB 0.77CSF Comdty Ind. Pl. 0.76Apple 0.75Germany 1.500 15/04/16 0.68Total 17.06

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165


Credit Suisse Portfolio Fund (Lux) Balanced (Sfr)Class I













166

Fund manager Urs HillerFund manager since 01/12/2009Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 91.32Inception date 14/05/1993Management fee in % p.a. 1.50Total expense ratio (ex ante) in % 1.69Benchmark (BM) CB CS PF (Lux) Balanced (US$)Unit Class Category B

(capital growth)




Credit Suisse Portfolio Fund (Lux) Balanced (US$)Class B


2007 2008 2009 2010 2011 201270

80

90

100

110

120

130

-30%

-20%

-10%

0%

10%

20%

30%

8.1

-23.0

20.2

9.0

-5.4

8.010.3

-21.2

17.4

10.3

-1.8

8.0

CS PF (Lux) Balanced (US$) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Balanced (US$) Yearly or year-to-date performance respectively (Benchmark)




USA 5.62 10.14 28.54 12.04 3.51 59.85Japan - -2.38 1.59 4.57 1.81 5.59Switzerland - 0.50 0.08 1.44 - 2.02Asia - -1.41 1.00 3.22 - 2.81Euroland - -4.42 1.25 9.31 2.93 9.07UK - -1.34 0.70 6.19 - 5.55Canada - -1.06 0.63 3.39 - 2.96Others - - 0.60 - 3.51 4.11Emerging Markets - - - 8.04 - 8.04Total 5.62 0.03 34.39 48.20 11.76 100.00






USD 54.50EUR 13.88GBP 6.89JPY 6.58CAD 4.26AUD 3.53HKD 2.67CHF 1.58Others 6.11


%Maturity as % of

assetsETFS ETC on Gold 3.92US Treasury 3.125 31/10/16 2.44DB X-Trackers 2.26US Treasury 2.625 30/06/14 2.01US Treasury 3.375 15/11/19 1.92CS SICAV OneEurop Eq. Div. Plus

1.26

Caterpillar Fin. 6.200 30/09/13 1.16US Treasury 0.375 31/07/13 1.10T-NTS United Statesof Am.

1.000 15/01/14 0.83

Dexia Municipal 1.800 09/05/17 0.78Total 17.68

Investment policyThe aim of the fund is to achieve the highestpossible total return in USD by investingworldwide, in principle with equal allocations inequities, equity-type securities and fixed orvariable rate securities. The proportion of thefund's assets invested in equities and equity-typesecurities may vary between 30% and 60%.In addition, money market instruments may beheld on an ancillary basis. The fund may alsoinvest a maximum of 20% in real estate andcommodities.

Fund facts


Bloomberg ticker CRSPBUI LXNet Asset Value 231.33



Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 >10


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167


Credit Suisse Portfolio Fund (Lux) Balanced (US$)Class B













168

Fund manager Urs HillerFund manager since 01/03/2002Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 80.56Inception date 30/10/1998Management fee in % p.a. 1.70Total expense ratio (ex ante) in % 1.89Benchmark (BM) CB CS PF (Lux) Growth (Euro)Unit Class Category B

(capital growth)


EU taxation In scope - no tax


Credit Suisse Portfolio Fund (Lux) Growth (Euro)Class B


2007 2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%

-1.2

-31.8

23.8

13.4

-9.3

11.1

1.5

-30.0

22.1

13.3

-5.2

11.6

CS PF (Lux) Growth (Euro) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Growth (Euro) Yearly or year-to-date performance respectively (Benchmark)






EUR 48.99USD 30.91JPY 4.07CAD 3.09GBP 2.99AUD 2.74HKD 1.96KRW 0.86Others 4.39


Euroland 0.80 3.68 10.68 31.36 2.85 49.37UK - 0.93 0.27 4.98 - 6.18Canada - -0.60 0.12 2.87 - 2.39Asia - -1.04 0.97 2.30 - 2.23USA - -0.24 1.54 20.11 3.82 25.23Japan - -2.71 0.67 3.20 1.78 2.94Others - - 0.86 - 4.30 5.16Switzerland - - 0.11 0.55 - 0.66Emerging Markets - - - 5.84 - 5.84Total 0.80 0.02 15.22 71.21 12.75 100.00

Investment policyThe aim of the fund is to achieve the highestpossible total return in EUR by investingworldwide in equities, equity-type securities andfixed or variable rate securities. Investments inequities and equity-type securities will accountfor at least 60% of the fund's net assets atany given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts


Bloomberg ticker CSPLGRO LXNet Asset Value 125.78

Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 >10






%Maturity as % of

assetsETFS ETC on Gold 4.30DB X-Trackers 2.05CS SICAV OneEurop Eq. Div. Plus

1.98

Sanofi-Aventis 1.15Apple 1.11CSF Comdty Ind. Pl. 1.08Total 0.99Rabobank 4.250 22/04/14 0.98Germany 1.500 15/04/16 0.93Germany 2.250 15/04/13 0.89Total 15.46


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169


Credit Suisse Portfolio Fund (Lux) Growth (Euro)Class B













170

Fund manager Urs HillerFund manager since 16/03/2006Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. MarTotal net assets (in millions) 264.90Inception date 11/06/1993Management fee in % p.a. 1.70Total expense ratio (ex ante) in % 1.89Benchmark (BM) CB CS PF (Lux) Growth (Sfr)Unit Class Category B

(capital growth)




Credit Suisse Portfolio Fund (Lux) Growth (Sfr)Class B


2007 2008 2009 2010 2011 20125060708090

100110120130

-50%-40%-30%-20%-10%

0%10%20%30%

-0.8

-34.0

21.0

0.3

-8.3

10.7

0.7

-32.9

21.2

2.0

-5.1

11.2

CS PF (Lux) Growth (Sfr) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Growth (Sfr) Yearly or year-to-date performance respectively (Benchmark)




Equity 72.12Alternatives 14.00Bonds 13.76Cash/CashEquivalents 0.12


USD 35.00CHF 23.81EUR 17.93GBP 4.85JPY 4.80CAD 3.86AUD 2.75HKD 2.14Others 4.86


Switzerland 0.09 14.23 3.36 19.63 - 37.31Asia - -0.78 1.01 1.93 - 2.16Euroland - -9.59 4.93 9.78 3.80 8.92Canada - -0.85 0.60 2.90 - 2.65USA - -0.60 2.73 22.25 4.30 28.68Japan - -2.40 0.52 3.77 2.00 3.89Others - - 0.66 - 3.92 4.58UK - - 0.29 5.19 - 5.48Emerging Markets - - - 6.33 - 6.33Total 0.09 0.01 14.10 71.78 14.02 100.00

Investment policyThe aim of the fund is to achieve the highestpossible total return in CHF by investingworldwide in equities, equity-type securities andfixed or variable rate securities. Investments inequities and equity-type securities will accountfor at least 60% of the fund's net assets atany given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts


Bloomberg ticker CRSPGSI LXNet Asset Value 157.13

Maturities in years

0%5%

10%15%20%25%30%35%

0-1 1-3 3-5 5-7 7-10 >10






%Maturity as % of

assetsNestlé 4.15ETFS ETC on Gold 3.92Roche 3.01Novartis 2.85DB X-Trackers 2.62CS SICAV One EuropEq. Div. Plus

1.36

ABB 1.35Apple 1.15Syngenta 0.98Zurich Fin. Services 0.92Total 22.31


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Credit Suisse Portfolio Fund (Lux) Growth (Sfr)Class B













172

Fund manager Urs HillerFund manager since 01/12/2009Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 69.50Inception date 11/06/1993Management fee in % p.a. 1.70Total expense ratio (ex ante) in % 1.89Benchmark (BM) CB CS PF (Lux) Growth (US$)Unit Class Category B

(capital growth)




Credit Suisse Portfolio Fund (Lux) Growth (US$)Class B


2007 2008 2009 2010 2011 201260708090

100110120130140

-40%-30%-20%-10%

0%10%20%30%40%

8.3

-33.8

27.1

10.0

-10.1

9.610.6

-31.3

24.9

11.5

-5.6

10.2

CS PF (Lux) Growth (US$) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Growth (US$) Yearly or year-to-date performance respectively (Benchmark)




Equity 71.15Alternatives 12.51Bonds 11.88Cash/CashEquivalents 4.46


USD 42.54EUR 18.05JPY 7.81GBP 7.38CAD 5.53AUD 4.16HKD 3.53CHF 2.28Others 8.72


USA 4.41 9.72 7.94 18.11 3.24 43.42Japan - -2.40 0.58 6.95 1.77 6.90Switzerland - 0.60 0.02 2.24 - 2.86Asia - -1.33 0.99 4.31 - 3.97Euroland - -6.16 1.29 13.46 3.90 12.49UK - 0.65 0.29 8.92 - 9.86Canada - -1.04 0.48 4.88 - 4.32Others - - 0.60 - 3.61 4.21Emerging Markets - - - 11.97 - 11.97Total 4.41 0.04 12.19 70.84 12.52 100.00

Investment policyThe aim of the fund is to achieve the highestpossible total return in USD by investingworldwide in equities, equity-type securities andfixed or variable rate securities. Investments inequities and equity-type securities will accountfor at least 60% of the fund's net assets atany given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts


Bloomberg ticker CRSPGUI LXNet Asset Value 204.95

Maturities in years

0%5%

10%15%20%25%30%35%

0-1 1-3 3-5 5-7 7-10 >10






%Maturity as % of

assetsETFS ETC on Gold 3.60DB X-Trackers 3.05Caterpillar Fin. 6.200 30/09/13 2.29Rabobank 3.375 19/02/13 2.18CS SICAV OneEurop Eq. Div. Plus

1.15

Apple 0.99US Treasury 2.000 15/01/16 0.63CS Sicav One (L)Glob. Convert.

0.59

US Tr Bds 1.375 15/01/20 0.55Nestlé 0.52Total 15.55


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173


Credit Suisse Portfolio Fund (Lux) Growth (US$)Class B













174

Fund manager Urs HillerFund manager since 01/03/2002Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 395.69Inception date 30/10/1998Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.49Benchmark (BM) CB CS PF (Lux) Income (Euro)Unit Class Category A

(distribution)


Last distribution 15/05/2012Distribution value 1.60EU taxation In scope - tax


Credit Suisse Portfolio Fund (Lux) Income (Euro)Class A & B


2007 2008 2009 2010 2011 201280859095

100105110115120

-20%-15%-10%-5%0%5%

10%15%20%

-1.6

-12.0

13.410.8

-2.6

7.7

1.1

-9.8

11.48.9

-0.5

8.0

CS PF (Lux) Income (Euro) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Income (Euro) Yearly or year-to-date performance respectively (Benchmark)






EUR 69.03USD 16.70JPY 5.00AUD 2.11GBP 1.92CAD 1.92HKD 1.13SGD 0.40Others 1.79


Euroland 3.44 8.32 51.19 11.36 2.75 77.06UK - -0.40 1.00 1.74 - 2.34Canada - -0.85 0.53 1.11 - 0.79Asia - -1.18 1.03 1.00 - 0.85USA - -1.76 2.66 6.00 3.39 10.29Japan - -4.11 3.60 0.95 1.80 2.24Others - - 0.56 - 3.62 4.18Switzerland - - 0.09 0.11 - 0.20Emerging Markets - - - 2.05 - 2.05Total 3.44 0.02 60.66 24.32 11.56 100.00

Investment policyThe aim of the fund is to achieve an appropriatereturn in EUR by taking advantage of thepossibilities for international diversification. Thefund invests worldwide in fixed and variable ratesecurities as well as in equities and equity-typesecurities. Fixed and variable rate securitiesaccount for at least 50% of the net assets of thefund at any given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts



Bloomberg ticker CRSIEAI LX CRSIEBI LXNet Asset Value 111.17 149.86

--


Annualised volatility in % 4.66 6.05Information ratio -0.12 -0.28Tracking Error (Ex post) 1.64 1.56Maximum draw down in % -5.25 -17.03

Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 >10


Allocation of bonds in %Fixed Income 63.83Shares (and equity-type securities) 27.93Open-end Funds 4.50Index Investments 3.73Closed-end Funds 0.01Total 100.00


%Maturity as % of

assetsETFS ETC on Gold 3.63DB X-Trackers 1.98Rabobank 1.850 12/04/17 1.43Rabobank 4.250 22/04/14 1.20Bayr Landesbank 1.400 22/04/13 1.18CS SICAV OneEurop Eq. Div. Plus

1.15

France OAT 4.000 25/04/18 1.03Germany 2.250 04/09/21 0.97Comm. Bk ofAustral.

2.625 12/01/17 0.95

Italy 4.500 01/02/18 0.91Total 14.43


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175


Credit Suisse Portfolio Fund (Lux) Income (Euro)Class A & B













176

Fund manager Urs HillerFund manager since 16/03/2006Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. MarTotal net assets (in millions) 1,538.32Inception date 14/05/1993Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.49Benchmark (BM) CB CS PF (Lux) Income (Sfr)Unit Class Category A

(distribution)




Credit Suisse Portfolio Fund (Lux) Income (Sfr)Class A & B


2007 2008 2009 2010 2011 201280

85

90

95

100

105

110

115

-20%

-15%

-10%

-5%

0%

5%

10%

15%

-1.1

-15.2

11.7

1.3

-5.7

6.6

0.1

-15.8

12.4

2.2

-2.9

7.3

CS PF (Lux) Income (Sfr) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Income (Sfr) Yearly or year-to-date performance respectively (Benchmark)






CHF 54.39USD 19.74EUR 10.99JPY 5.48GBP 2.66AUD 1.93CAD 1.70HKD 1.13Others 1.98


Switzerland 3.09 18.32 44.56 6.11 0.18 72.26Asia - -1.04 1.02 0.85 - 0.83Euroland - -8.02 4.93 3.67 2.67 3.25UK - -0.91 1.08 2.34 - 2.51Canada - -0.65 0.83 0.57 - 0.75USA - -3.81 4.45 7.04 3.44 11.12Japan - -3.90 3.80 1.21 1.74 2.85Others - - 0.64 - 3.48 4.12Emerging Markets - - - 2.31 - 2.31Total 3.09 -0.01 61.31 24.10 11.51 100.00

Investment policyThe aim of the fund is to achieve an appropriatereturn in CHF by taking advantage of thepossibilities for international diversification. Thefund invests worldwide in fixed and variable ratesecurities as well as in equities and equity-typesecurities. Fixed and variable rate securitiesaccount for at least 50% of the net assets of thefund at any given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts



Bloomberg ticker CRSISAI LX CRSISBI LXNet Asset Value 108.90 158.41

--



Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 >10




%Maturity as % of


1.33

Nestlé 1.31Rabobank 1.850 12/04/17 1.05Roche 0.93Novartis 0.90Dexia Municipal 1.800 09/05/17 0.85Dexia Municipal 1.550 31/10/13 0.78Rabobank 0.676 12/03/14 0.72Total 13.25


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177


Credit Suisse Portfolio Fund (Lux) Income (Sfr)Class A & B













178

Fund manager Urs HillerFund manager since 16/03/2006Location ZürichFund domicile LuxembourgFund currency CHFClose of financial year 31. MarTotal net assets (in millions) 1,538.32Inception date 10/04/2012Management fee in % p.a. 0.60Total expense ratio (ex ante) in % 0.76Benchmark (BM) CB CS PF (Lux) Income (Sfr)Unit Class Category I (capital

growth)




Credit Suisse Portfolio Fund (Lux) Income (Sfr)Class I






CHF 54.39USD 19.74EUR 10.99JPY 5.48GBP 2.66AUD 1.93CAD 1.70HKD 1.13Others 1.98


Switzerland 3.09 18.32 44.56 6.11 0.18 72.26Asia - -1.04 1.02 0.85 - 0.83Euroland - -8.02 4.93 3.67 2.67 3.25UK - -0.91 1.08 2.34 - 2.51Canada - -0.65 0.83 0.57 - 0.75USA - -3.81 4.45 7.04 3.44 11.12Japan - -3.90 3.80 1.21 1.74 2.85Others - - 0.64 - 3.48 4.12Emerging Markets - - - 2.31 - 2.31Total 3.09 -0.01 61.31 24.10 11.51 100.00

Investment policyThe aim of the fund is to achieve an appropriatereturn in CHF by taking advantage of thepossibilities for international diversification. Thefund invests worldwide in fixed and variable ratesecurities as well as in equities and equity-typesecurities. Fixed and variable rate securitiesaccount for at least 50% of the net assets of thefund at any given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts


Bloomberg ticker CSPTICI LXNet Asset Value 1,040.13


Annualized volatility in % - -Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 0) - -

Maturities in years

0%5%

10%15%20%25%30%35%40%

0-1 1-3 3-5 5-7 7-10 >10




%Maturity as % of


1.33

Nestlé 1.31Rabobank 1.850 12/04/17 1.05Roche 0.93Novartis 0.90Dexia Municipal 1.800 09/05/17 0.85Dexia Municipal 1.550 31/10/13 0.78Rabobank 0.676 12/03/14 0.72Total 13.25

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179


Credit Suisse Portfolio Fund (Lux) Income (Sfr)Class I













180

Fund manager Urs HillerFund manager since 01/12/2009Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MarTotal net assets (in millions) 242.41Inception date 14/05/1993Management fee in % p.a. 1.30Total expense ratio (ex ante) in % 1.49Benchmark (BM) CB CS PF (Lux) Income (US$)Unit Class Category A

(distribution)




Credit Suisse Portfolio Fund (Lux) Income (US$)Class A & B


2007 2008 2009 2010 2011 201280

90

100

110

120

130

-20%

-10%

0%

10%

20%

30%

7.1

-12.7

13.38.2

-1.8

6.09.5

-9.5

9.6 9.0

2.05.8

CS PF (Lux) Income (US$) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Income (US$) Yearly or year-to-date performance respectively (Benchmark)






USD 69.33EUR 9.60JPY 6.10GBP 3.69CAD 3.03AUD 2.61HKD 1.62CHF 0.76Others 3.26


USA 8.26 10.93 47.72 5.79 3.03 75.73Japan - -3.75 3.45 2.17 1.75 3.62Switzerland - 0.40 0.13 0.53 - 1.06Asia - -1.17 1.06 1.71 - 1.60Euroland - -4.47 1.50 5.46 2.75 5.24UK - -0.70 0.93 3.30 - 3.53Canada - -1.20 0.98 1.78 - 1.56Others - - 0.40 - 3.25 3.65Emerging Markets - - - 4.01 - 4.01Total 8.26 0.04 56.17 24.75 10.78 100.00

Investment policyThe aim of the fund is to achieve an appropriatereturn in USD by taking advantage of thepossibilities for international diversification. Thefund invests worldwide in fixed and variable ratesecurities as well as in equities and equity-typesecurities. Fixed and variable rate securitiesaccount for at least 50% of the net assets of thefund at any given time. In addition, money marketinstruments may be held on an ancillary basis.The fund may also invest a maximum of 20% inreal estate and commodities.

Fund facts



Bloomberg ticker CRSIUAI LX CRSIUBI LXNet Asset Value 137.46 238.67

--



Maturities in years

0%5%

10%15%20%25%30%35%

0-1 1-3 3-5 5-7 7-10 >10




%Maturity as % of

assetsUS Treasury 3.125 31/10/16 4.55US Treasury 2.625 30/06/14 3.74ETFS ETC on Gold 3.63US Treasury 3.375 15/11/19 3.57Rabobank 3.375 19/02/13 2.49US Treasury 0.375 31/07/13 2.06DB X-Trackers 2.04Bayr Landesbank 1.400 22/04/13 1.56T-NTS United Statesof Am.

1.000 15/01/14 1.56



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181


Credit Suisse Portfolio Fund (Lux) Income (US$)Class A & B













182

Fund manager Francesco SpadacciaFund manager since 01/07/2012Location MilanFund domicile LuxembourgFund currency EURClose of financial year 31. MarTotal net assets (in millions) 93.49Inception date 22/04/1994Management fee in % p.a. 1.20Total expense ratio (ex ante) in % 1.39Benchmark (BM) CB CS PF (Lux) Reddito (Euro)Unit Class Category A

(distribution)




Credit Suisse Portfolio Fund (Lux) Reddito (Euro)Class A & B


2007 2008 2009 2010 2011 201290

95

100

105

110

115

120

-10%

-5%

0%

5%

10%

15%

20%

0.3

-8.1

9.0

3.5

-1.4

8.2

1.3

-3.0

7.8

3.30.9

6.4

CS PF (Lux) Reddito (Euro) B Yearly or year-to-date performance respectively (Fund)CB CS PF (Lux) Reddito (Euro) Yearly or year-to-date performance respectively (Benchmark)




Bonds 63.45Equity 21.44Cash/CashEquivalents 15.11


EUR 78.65USD 9.35ITL 3.23GBP 2.71JPY 2.14AUD 1.44SEK 1.11ISK 0.87Others 0.50

Asset allocation in %Cash/Cash Equivalents Bonds Equity Total

North America 0.39 - 4.41 4.80Euroland - 70.46 - 70.46USA - 4.82 - 4.82Others - 2.90 - 2.90UK - - 0.94 0.94Asia - - 0.67 0.67Switzerland - - 0.97 0.97Europe - - 14.44 14.44Total 0.39 78.18 21.43 100.00

Investment policyThe aim of the fund is to achieve an appropriatereturn on the capital invested, while takingadvantage of the opportunities provided byinternational diversification. The fund invests ineuro denominated fixed and variable ratesecurities as well as in equities and equity-typesecurities. Fixed and variable rate instrumentswill account for at least 50% of the net assets ofthe fund at any given time. Investment in Italiandomiciled securities will account for a largerproportion of the fund’s assets than othersecurities. In addition, money market instrumentsmay be held on an ancillary basis.

Fund facts



Bloomberg ticker CRSILAI LX CRSILBI LXNet Asset Value 70.11 114.90

--

Maturities in years

0%

5%

10%

15%

20%

25%

0-1 1-3 3-5 5-7 7-10 >10




Allocation of bonds in %Fixed Income 78.91Shares (and equity-type securities) 19.89Open-end Funds 1.08Mortgage Backed Securities 0.12Total 100.00


assetsItaly 3.000 15/04/15 5.38EIB 4.000 15/10/37 4.88Italy 5.750 25/07/16 4.52Germany 3.250 04/01/20 3.73CDEP 3.000 31/01/13 3.23Italy 4.000 01/09/20 3.07Italy 2.250 01/11/13 2.90Italy 2.150 15/09/14 2.62EIB 2.150 18/01/27 2.12Iberdrola 0.000 07/11/16 2.11Total 34.56


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183


Credit Suisse Portfolio Fund (Lux) Reddito (Euro)Class A & B


During the last quarter we maintained theduration of the fund slightly longer than that ofthe benchmark with a small overweight in theItalian bond market. At the same time, we

gradually increased the total amount of creditportfolio, mainly participating in the primarymarket instead of secondary with the aim ofexploiting the new issuance premium. On the

equity side we reduced our overweight throughboth the reduction of our positions in the US,UK and Japan and the closing of our emergingmarket exposure.


The most recent policy measures of the ECBand the Fed have three important implicationsfor investors. Firstly, investors should somewhatanticipate, but not excessively, higher inflation.Secondly, risks of extreme destabilizing events inEurope or the US are significantly lower than inpast months. Thirdly, this implies slightly higherbond yields but no big uptrend. Hence,momentum is likely to continue to build in those

assets that benefit from the abovecircumstances, especially where valuations stillremain reasonably supportive.

Stocks continue to compare favorably to mostbonds – earnings yields and dividend yields aregenerally higher than benchmark governmentand investment grade corporate yields, forexample. With monetary policy now explicitly tied

to improvements in the US labor market, andEuropean equities supported by a receding eurorisk premium, more upside can be expected, notleast because the asset class should registermore inflows. Corporations generally remain in avery healthy state from a leverage, interest coverand debt maturity aspect. Risk/reward remainsreasonably attractive compared to cash orlong-dated US or German government bonds.

Portfolio managementFrancesco Spadaccia joined Credit Suisse in January 2008. He works within the Multi Asset Class Solutions (MACS) team in Milan as a fixed incomeportfolio manager. Mr. Spadaccia is focused on global fixed income and credit markets and provides benchmark oriented and total return solutions. He alsoworked for six months in Singapore supporting the local MACS team in managing fixed income products with focus on Asian credit markets. Mr. Spadacciaholds a MSc in Finance from the Università Commerciale Luigi Bocconi (Italy), and a BA in Finance from the same university.


184

Fund managerHechinger Bernard, Wiedemeijer Oliver, Keller Ulrich

Fund manager since01/12/2011, 01/12/2011, 01/12/2011

Location Zürich, Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. DecTotal net assets (in millions) 59.03Inception date 31/03/1999Management fee in % p.a. 1.75Subscription MonthlyRedemption MonthlyPerformance fee in % with Highwatermark 10.00Unit Class Category B

(capital growth)


Min. Investment Amount 10,000EU taxation Out of scope

Product Contact Rakhee PatelPhone +44 20 7883 9232

Fund 12

August 31, 2012Luxembourg

Credit Suisse Prime Select Trust (Lux) Global Equities Long/ShortClass B


2007 2008 2009 2010 2011 20127580859095

100105110115

-25%-20%-15%-10%-5%0%5%

10%15%12.4

-20.0

3.7 2.1

-8.0

5.4

CSPST (Lux) Global Equities Long/Short B Yearly or year-to-date performance respectively (Fund)



Historical monthly performance in % 1)

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.86 1.72 1.12 0.20 -2.05 0.84 0.65 0.95 - - - - 5.352011 -1.33 0.67 0.32 0.40 -1.13 -0.57 -1.63 -3.39 -2.24 2.58 -1.17 -0.65 -7.982010 -1.39 1.18 1.39 -0.79 -2.74 -3.66 1.62 -1.13 3.20 1.65 0.56 2.43 2.112009 0.69 -0.10 -0.38 -0.99 1.04 0.13 0.57 0.60 1.22 -0.63 0.94 0.59 3.722008 -3.64 2.09 -2.92 0.65 1.51 -0.09 -2.47 -1.78 -8.88 -4.23 -1.20 -0.62 -19.972007 1.20 0.57 1.59 1.49 1.33 0.06 0.65 -0.87 1.72 3.19 -0.27 1.18 12.442006 2.43 0.57 1.48 1.02 -2.98 -0.34 0.45 0.99 0.47 1.04 1.13 2.02 8.492005 0.14 1.23 -1.65 -0.50 1.36 2.22 1.24 1.15 1.60 -3.22 2.55 3.79 10.16

Sector weightings in % 0)

Equity Market Oriented Europe Diversified 37.00Equity Market Neutral Statistical 12.20Equity Market Oriented US Diversified 10.90Equity Market Oriented Technology 10.10Equity Market Oriented Health Care 9.00Equity Market Neutral Quantitative 8.90Emerging Markets 5.90Event Driven 0.00Cash/Cash Equivalents 5.90

Portfolio allocation and performance attribution

# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)

Equity Market Oriented Europe Diversified - 37.00% 1.13% 4.69% 0.42%Equity Market Neutral Statistical - 12.20% 1.45% 7.22% 0.18%Equity Market Oriented US Diversified - 10.90% 1.63% 8.51% 0.18%Equity Market Oriented Technology - 10.10% 2.28% 15.15% 0.23%Equity Market Oriented Health Care - 9.00% 0.80% 5.56% 0.07%Equity Market Neutral Quantitative - 8.90% 0.06% 14.69% 0.01%Emerging Markets - 5.90% 0.38% 0.38% 0.02%Event Driven - 0.00% -0.26% -56.44% 0.00%Cash/Cash Equivalents - 5.90% N/A N/A N/ATotal 99.90%

Investment policyThe Global Equities Long/Short subfund investswith hedge fund managers who implementdirectional strategies in the worldwide equitiesmarkets by going both long and/or short. Thelevel of systematic market exposure is left tothe discretion of the underlying managers andtherefore can be either positive or negative (longor short) at any given time. The subfund isexpected to have some degree of correlation tothe equity markets. The subfund seeks to limitthe correlation between the underlying managersto dampen its volatility.

Fund facts


Bloomberg ticker CREGELA LXNet Asset Value 1,776.28

Contact information

E-Mail [email protected]

Number of holdings

Top 5 HoldingsPosition as % of assetsTwo Sigma Spectrum Cayman 12.15AlphaGen Octanis FD 11.00Amici Fund International 10.91Alkeon Growth 10.10Lansdowne Developed Markets 9.97Total 54.13


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Location Zürich, Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. DecTotal net assets (in millions) 59.03Inception date 28/01/2008Management fee in % p.a. 1.75Subscription MonthlyRedemption MonthlyPerformance fee in % with Highwatermark 10.00Unit Class Category R - hedged

(capital growth)




Fund 12


Credit Suisse Prime Select Trust (Lux) Global Equities Long/ShortClass R CHF


2008 2009 2010 2011 201275

80

85

90

95

100

105

110

-25%

-20%

-15%

-10%

-5%

0%

5%

10%

3.00.9

-9.1

4.3

CSPST (Lux) Global Equities Long/Short R CHF Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.02 2.41 4.30 1.93 -2.46 -


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.78 1.62 1.07 0.12 -2.69 1.02 0.35 1.02 - - - - 4.302011 -1.42 0.57 0.29 0.37 -1.19 -0.60 -1.64 -3.56 -2.69 2.46 -1.23 -0.77 -9.142010 -1.44 1.15 1.35 -0.85 -3.19 -3.70 1.41 -1.13 3.03 1.61 0.54 2.33 0.852009 1.07 -0.11 -0.66 -1.05 0.58 0.07 0.51 0.55 1.19 -0.65 0.93 0.58 3.032008 - 1.77 -2.75 0.73 1.37 -0.19 -2.62 -1.87 -9.12 -4.78 -1.06 -1.28 -18.51




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts


Bloomberg ticker CSPG7RC LXNet Asset Value 802.44

Contact information


Number of holdings



186






(capital growth)




Fund 12


Credit Suisse Prime Select Trust (Lux) Global Equities Long/ShortClass R EUR


2007 2008 2009 2010 2011 20127580859095

100105110115

-25%-20%-15%-10%-5%0%5%

10%15%

10.9

-20.3

3.90.9

-7.7

4.9

CSPST (Lux) Global Equities Long/Short R EUR Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.92 2.41 4.92 3.15 -0.12 -14.72


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.88 1.65 1.07 0.15 -2.27 0.86 0.61 0.92 - - - - 4.922011 -1.00 0.51 0.31 0.38 -1.03 -0.51 -1.59 -3.32 -2.40 2.56 -1.13 -0.65 -7.712010 -1.44 1.18 1.40 -0.83 -3.22 -3.55 1.32 -1.10 2.75 1.63 0.67 2.36 0.952009 0.72 -0.05 -0.37 -0.99 1.03 0.15 0.57 0.59 1.22 -0.62 0.98 0.61 3.882008 -3.69 2.16 -2.68 0.75 1.61 0.08 -2.40 -1.80 -9.23 -5.08 -1.10 -0.58 -20.342007 1.06 0.47 1.47 1.37 1.20 -0.05 0.56 -0.98 1.55 3.04 -0.32 1.11 10.922006 - - - - - - - - 0.32 1.20 1.26 1.33 4.18




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts


Bloomberg ticker GREGLSH LXNet Asset Value 934.48

Contact information


Number of holdings



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187



Location Zürich, Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. DecTotal net assets (in millions) 187.89Inception date 30/06/2004Management fee in % p.a. 1.75Subscription MonthlyRedemption MonthlyPerformance fee in % with Highwatermark 10.00Unit Class Category B

(capital growth)




Fund 45


Credit Suisse Prime Select Trust (Lux) Multi StrategyClass B


2007 2008 2009 2010 2011 201280

85

90

95

100

105

110

115

-20%

-15%

-10%

-5%

0%

5%

10%

15%

7.5

-13.8

8.4

4.3

-5.0

2.7

CSPST (Lux) Multi Strategy B Yearly or year-to-date performance respectively (Fund)




Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.22 1.01 0.38 0.17 -1.51 0.07 0.68 0.66 - - - - 2.692011 0.28 0.57 0.09 0.91 -0.78 -0.86 -0.34 -2.64 -1.97 1.04 -0.69 -0.64 -4.992010 0.29 0.74 1.23 0.60 -2.37 -0.46 0.27 0.03 1.51 0.88 0.03 1.54 4.322009 -0.43 0.08 0.59 0.62 2.23 -0.27 1.60 1.21 1.20 -0.12 0.75 0.68 8.422008 -1.57 2.07 -1.87 -0.34 1.86 -0.75 -2.62 -1.48 -5.15 -3.83 -0.97 0.11 -13.822007 1.16 0.38 1.21 1.33 1.79 0.35 -0.04 -1.83 2.13 2.43 -1.66 0.14 7.542006 2.05 0.20 1.22 0.86 -1.35 -0.33 0.01 0.03 0.04 0.90 1.07 1.44 6.262005 0.23 1.38 -0.36 -0.74 0.44 1.36 1.19 0.64 1.98 -1.46 1.28 1.94 8.10


Equity Market Oriented 25.00Fixed Income 17.70Global Macro 15.50Event Driven 12.60Convertible Arbitrage 6.30Multi-Strategy 4.80Emerging Markets 4.40Equity Market Neutral 4.30Cash/Cash Equivalents 1.50Others 7.90


# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)

Equity Market Oriented - 25.00% 1.70% 5.87% 0.30%Fixed Income - 17.70% 0.49% 6.63% 0.09%Global Macro - 15.50% 0.38% -1.97% 0.06%Event Driven - 12.60% 1.38% 4.57% 0.17%Convertible Arbitrage - 6.30% 0.59% 2.92% 0.04%Multi-Strategy - 4.80% 0.35% 2.81% 0.02%Emerging Markets - 4.40% 0.44% 1.02% 0.02%Equity Market Neutral - 4.30% 0.26% 14.74% 0.01%Managed Futures - 4.20% -1.05% -0.35% -0.04%Others - 3.70% 2.60% 1.56% 0.10%Cash/Cash Equivalents - 1.50% N/A N/A N/ATotal 100.00%

Investment policyThe Multi Strategy Subfund strives to generateabsolute returns with low volatility irrespectiveof the market situation with a highly diversifiedportfolio of hedge funds. The Subfund allocatesits assets across the following hedge fundstrategies: long/short equity, relative value, eventdriven, global macro and managed futures. Tokeep overall volatility low the fund manager buildsa well diversified product through an appropriatechoice of target funds.

Fund facts


Bloomberg ticker CREMULS LXNet Asset Value 1,269.01

Contact information


Number of holdings

Top 5 HoldingsPosition as % of assetsSector Healthcare FD 4.73Exane Archimedes Fd 4.67OCCO Eastern Europ. 4.39Brevan Howard FD 4.30Talentum Enhanced FD 4.28Total 22.37


188





Location Zürich, Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. DecTotal net assets (in millions) 187.89Inception date 31/12/2004Management fee in % p.a. 1.00Subscription MonthlyRedemption MonthlyPerformance fee in % with Highwatermark 10.00Unit Class Category I (capital

growth)


Min. Init. Investm. Amount (in mill.) 3EU taxation Out of scope


Fund 45


Credit Suisse Prime Select Trust (Lux) Multi StrategyClass I


2007 2008 2009 2010 2011 201285

90

95

100

105

110

115

-15%

-10%

-5%

0%

5%

10%

15%

8.3

-13.2

9.2

5.1

-4.3

3.2

CSPST (Lux) Multi Strategy I Yearly or year-to-date performance respectively (Fund)




Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.28 1.07 0.45 0.23 -1.45 0.13 0.74 0.72 - - - - 3.202011 0.34 0.57 0.13 0.87 -0.65 -0.72 -0.25 -2.58 -1.91 1.11 -0.63 -0.58 -4.272010 0.35 0.81 1.30 0.66 -2.31 -0.40 0.33 0.09 1.58 0.95 0.09 1.60 5.112009 -0.36 0.15 0.65 0.68 2.30 -0.20 1.66 1.27 1.26 -0.06 0.82 0.74 9.252008 -1.51 2.12 -1.79 -0.28 1.89 -0.64 -2.56 -1.42 -5.09 -3.77 -0.91 0.18 -13.162007 1.22 0.44 1.27 1.39 1.85 0.43 0.00 -1.78 2.19 2.48 -1.60 0.20 8.292006 2.11 0.26 1.28 0.92 -1.29 -0.28 0.07 0.08 0.09 0.96 1.13 1.49 7.002005 0.29 1.44 -0.34 -0.76 0.53 1.42 1.25 0.70 2.04 -1.40 1.34 1.99 8.76




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts


Bloomberg ticker CSPHUSI LXNet Asset Value 1,241.55

Contact information


Number of holdings



Cre

dit S

uiss

e P

rime

Sel

ect T

rust



189




(capital growth)




Fund 45


Credit Suisse Prime Select Trust (Lux) Multi StrategyClass R CHF


2007 2008 2009 2010 2011 201280

85

90

95

100

105

110

-20%

-15%

-10%

-5%

0%

5%

10%

4.3

-15.6

8.0

3.5

-6.3

2.1

CSPST (Lux) Multi Strategy R CHF Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.59 1.24 2.10 -0.98 1.52 -7.90


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.15 0.95 0.35 0.12 -1.70 0.07 0.57 0.59 - - - - 2.102011 0.20 0.47 0.03 0.80 -0.86 -0.88 -0.36 -2.76 -2.53 0.99 -0.73 -0.76 -6.252010 0.27 0.71 1.24 0.57 -2.71 -0.30 0.19 -0.01 1.40 0.84 -0.01 1.37 3.552009 -0.09 0.05 0.76 0.53 1.90 -0.46 1.54 1.11 1.18 -0.16 0.77 0.62 8.012008 -1.78 1.97 -1.93 -0.31 1.86 -0.77 -2.75 -1.61 -5.30 -4.19 -0.85 -0.96 -15.622007 0.95 0.01 0.96 1.05 1.57 0.12 -0.28 -2.05 1.80 2.13 -1.85 -0.09 4.312006 1.73 -0.08 0.92 0.56 -1.61 -0.65 -0.36 -0.35 -0.26 0.61 0.75 1.18 2.432005 0.12 1.22 -0.54 -0.92 0.25 1.24 1.00 0.43 1.83 -1.70 1.09 1.67 5.78




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts


Bloomberg ticker CSPHCHF LXNet Asset Value 1,048.77

Contact information


Number of holdings



190






(capital growth)




Fund 45


Credit Suisse Prime Select Trust (Lux) Multi StrategyClass R EUR


2007 2008 2009 2010 2011 201280

85

90

95

100

105

110

115

-20%

-15%

-10%

-5%

0%

5%

10%

15%

5.9

-14.3

9.8

3.7

-5.1

1.3

CSPST (Lux) Multi Strategy R EUR Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.64 0.75 1.28 -1.43 2.11 -3.89


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.21 0.95 0.33 0.15 -2.08 0.14 0.60 0.64 - - - - 1.282011 0.24 0.58 0.09 0.90 -0.67 -0.82 -0.27 -2.57 -2.28 1.22 -0.75 -0.87 -5.142010 0.32 0.76 1.23 0.60 -2.71 -0.57 0.27 -0.01 1.36 0.88 0.07 1.49 3.682009 0.28 0.13 1.03 0.64 2.21 -0.23 1.67 1.18 1.22 -0.11 0.77 0.62 9.792008 -1.63 2.12 -1.75 -0.39 1.91 -0.48 -2.54 -1.18 -5.21 -3.70 -0.90 -1.28 -14.262007 1.02 0.24 1.08 1.18 1.69 0.24 -0.15 -1.95 1.89 2.27 -1.70 0.07 5.942006 1.85 -0.01 1.05 0.69 -1.49 -0.57 -0.19 -0.19 -0.14 0.71 0.90 1.29 3.942005 0.25 1.32 -0.41 -0.82 0.36 1.34 1.08 0.50 1.89 -1.60 1.19 1.78 7.05




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts


Bloomberg ticker CSPHEUR LXNet Asset Value 1,150.73

Contact information


Number of holdings



Cre

dit S

uiss

e P

rime

Sel

ect T

rust



191




(capital growth)




Fund 45


Credit Suisse Prime Select Trust (Lux) Multi StrategyClass R GBP

Net performance in GBP (rebased to 100) and yearly performance 1)

2009 2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

3.7

-5.1

2.6

CSPST (Lux) Multi Strategy R GBP Yearly or year-to-date performance respectively (Fund)

Net performance in GBP 1)



Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 1.23 1.00 0.41 0.14 -1.61 0.12 0.66 0.64 - - - - 2.602011 0.25 0.54 0.05 0.83 -0.71 -0.78 -0.30 -2.68 -2.07 1.07 -0.69 -0.64 -5.072010 0.29 0.66 1.13 0.54 -2.27 -0.49 0.25 0.04 1.35 0.78 0.06 1.39 3.742009 - - - 0.53 1.81 -0.25 1.42 1.13 1.10 -0.12 0.70 0.64 7.16




# ofManagers

StrategyAllocation

Est. Ret.MTD

Est. Ret.YTD

StrategyAttribution

MTD 0)



Fund facts

Unit class currency GBP

Bloomberg ticker CSMSRBP LXNet Asset Value 1,082.70

Contact information


Number of holdings



192



Fund manager Dietmar Peetz, Daniel SchmittFund manager since 08/04/2010, 08/04/2010Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 1,089.49Inception date 14/04/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.09Benchmark (BM) DJ-UBS Commodity Index (RI)Unit Class Category B

(capital growth)



Credit Suisse SICAV One (Lux) CommodityAllocationClass B


2010 2011 201280

90

100

110

120

130

140

-20%

-10%

0%

10%

20%

30%

40%

-13.0

1.4

-13.3

5.6

CS SICAV One (Lux) CommodityAllocationB


DJ-UBS Commodity Index (RI)Yearly or year-to-date performance respectively(Benchmark)




Agriculture 31.74Energy 30.74Industrial Metals 16.37Precious Metals 14.27Livestock 5.40Others 1.48



Countries in %

USA 91.96Jersey 0.44Netherlands 0.10Others 7.50

Top collateral holdings in %Position Coupon % Maturity as % of

assetsUS Treasury 0.000 13/12/12 9.19US Treasury 0.000 15/11/12 9.19US Treasury 0.000 10/01/13 7.35US Treasury 0.000 07/02/13 7.35US Treasury 0.000 07/03/13 7.35US Treasury 0.000 18/10/12 6.44US Treasury 0.000 22/08/13 5.51US Treasury 0.000 25/07/13 5.51US Treasury 0.000 02/05/13 5.51US Treasury Bill 0.000 19/09/13 5.51Total 68.91

Investment policyThe aim of the fund is to generate the highestpossible risk-adjusted return in the long termthrough diversified investments in commodityrelated instruments globally. The Fund investsmainly in investment funds, structured products,derivatives and other securities to gain exposureto commodities markets.

Fund facts


Bloomberg ticker CSCOALB LXNet Asset Value 102.82


Cre

dit S

uiss

e S

ICA

V O

ne



193


Credit Suisse SICAV One (Lux) CommodityAllocationClass B


In Q3 2012, the DJ-UBS TR index gained9.69%, whereas the dollar Index lost 2.07% andthe MSCI World gained 6.13%.

Across the board, the commodity sectorsshowed strong performance with DJ-UBSPrecious Metals up +13.39%, followed byDJ-UBS Energy +11.85%, DJ-UBS Agriculture+9.77% and DJ-UBS Industrial Metals +8.55%.The only exception was DJ-UBS Livestock whichfinished the quarter -5.78%. US hog farmers areslaughtering animals at the fastest pace since2009 as a surge in feed costs spurs the biggestlosses in 14 years.

In the energy sector, Unleaded Gasoline gained

24.77% in light of tight inventories, followed byDJ-UBS Heating Oil (+15.79%), DJ-UBS Brent(+14.99%), DJ-UBS Natural Gas (+8.60%),and DJ-UBS Crude (+7.31%). Gasoline stocksin the US East Coast (PADD 1) were at theirlowest level in more than three years end ofSeptember 2012.

In the agriculture space, DJ-UBS Corn(+19.30%) was up most, followed by DJ-UBSWheat (+17.15%), Soybean (+12.13%) andCocoa (+9.41%). On the negative side stoodDJ-UBS Sugar, finishing the quarter -6.29%,followed by Cotton (-0.95%) and Coffee(-0.09%). Corn, wheat, and soybeans stillbenefited from the heat wave in the US in July

and normalized a bit after data showed that theharvest is progressing faster than normal, e.g.,the USDA reported the highest corn percentageharvested number at 54% in ten years.

Both precious and industrial metals benefittedfrom the quantitative easing (QE3)announcement of the Fed. DJ-UBS Silver(+24.85%) moved about twice as much asDJ-UBS Gold (+10.25%), a relationship whichhistorically can be observed on average. Withinthe industrial metals all segments showedpositive performance, despite recent sluggishChinese Industrial output figures.


A good part of the recent commodity marketsprice action can be attributed to the improvedliquidity and financing conditions set by centralbanks all over the world. However, cyclicalfactors such as leading economic indicators giverather mixed signals.

We expect commodity sector volatility to pick upgoing forward, creating a more oscillating patharound the structural trend of higher commoditydemand from demographic and urbanizationforces. The wild card of an escalation ofgeopolitical tensions in the world creates anothersource for an increase in volatility. The disparate

sector outlooks also imply that there will be manytactical trading opportunities. In this context wethink an active, shorter-term-oriented investmentapproach will likely generate the bestperformance.

Portfolio managementDr. Dietmar Peetz is a Senior Portfolio Manager with more than 14 years experience in financial markets covering commodities, fixedincome, equity and derivatives. He joined Credit Suisse Asset Management from FVS AG in Germany, where he was responsible fordeveloping and implementing risk optimized portfolios using absolute return strategies. Prior to FVS Dr. Peetz worked at Commercial Bankof Cologne in Portfolio Management, Treasury and Trading, with a focus on financial engineering and proprietary trading. Dr. Peetzgraduated from the University of Applied Sciences in Cologne, Germany and from the University of Reading, UK, with a Master of Sciencein International Banking. He completed his PhD thesis in 2007 from the University of Kassel, Germany.


194

Fund manager Dietmar Peetz, Daniel SchmittFund manager since 08/04/2010, 08/04/2010Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 1,089.49Inception date 14/04/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.09Benchmark (BM)

DJ-UBS Commodity Index (RI) (Hedged into CHF)Unit Class Category R - hedged

(capital growth)



Credit Suisse SICAV One (Lux) CommodityAllocationClass R CHF


2010 2011 201280

90

100

110

120

130

-20%

-10%

0%

10%

20%

30%

-13.8

0.4

-16.2

4.3

CS SICAV One (Lux) CommodityAllocation RCHF


DJ-UBS Commodity Index (RI) (Hedged intoCHF)








Countries in %





Fund facts


Bloomberg ticker CSCALCR LXNet Asset Value 99.05


Cre

dit S

uiss

e S

ICA

V O

ne



195


Credit Suisse SICAV One (Lux) CommodityAllocationClass R CHF















196

Fund manager Dietmar Peetz, Daniel SchmittFund manager since 08/04/2010, 08/04/2010Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 1,089.49Inception date 14/04/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.10Benchmark (BM)

DJ-UBS Commodity Index (RI) (Hedged into EUR)Unit Class Category R - hedged

(capital growth)



Credit Suisse SICAV One (Lux) CommodityAllocationClass R EUR


2010 2011 201280

90

100

110

120

130

-20%

-10%

0%

10%

20%

30%

-13.7

0.7

-14.7

4.6

CS SICAV One (Lux) CommodityAllocation REUR


DJ-UBS Commodity Index (RI) (Hedged intoEUR)








Countries in %





Fund facts


Bloomberg ticker CSCALER LXNet Asset Value 99.95


Cre

dit S

uiss

e S

ICA

V O

ne



197


Credit Suisse SICAV One (Lux) CommodityAllocationClass R EUR















198

-3.12-1.58-0.88-0.84

0.72-0.91

0.490.10

6.60-0.57

Purchases SalesENEL INTESA SANPAOLOSOCIETE GENERALE PARIS a

KINNEVIK INVESTMENT AB b

Fund manager Julio Alberto GiróFund manager since 01/06/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 489.75Inception date 27/06/2011Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.13Benchmark (BM) MSCI EMU (NR)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) Equity EurozoneClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

4.6

-44.6

22.8

5.0

-20.1

14.17.8

-44.9

27.3

2.4

-14.9

11.5

CS SICAV One (Lux) Equity Eurozone B Yearly or year-to-date performance respectively (Fund)MSCI EMU (NR) Yearly or year-to-date performance respectively (Benchmark)

simulation based on Equis Europe and F share class Track Record with adjusted Management Fee (06.12.2005-24.06.2011)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.18 9.86 14.10 20.95 -1.41 -35.48Benchmark 1.25 8.42 11.51 17.85 -0.27 -32.33


Financials 16.49 19.61Industrials 11.07 12.65Consumer Staples 10.88 11.76Consumer Discretionary 10.72 11.56Health Care 9.55 8.83Materials 8.65 9.56Energy 8.62 8.13Utilities 6.81 6.71Cash/Cash Equivalents 6.60 -Others 10.62 11.19




Investment policyThe aim of the Fund is to achieve the highestpossible return by investing in Europeancompanies predominantly characterised by highprofitability, a sound financial structure andsuccessful management.

Fund facts


Bloomberg ticker CSEEZAB LXNet Asset Value 9.47


Cre

dit S

uiss

e S

ICA

V O

ne



199


Credit Suisse SICAV One (Lux) Equity EurozoneClass B


The fund rose 8.86% during Q3, outperformingthe 7.15% rise in the eurozone equity market,as measured by the MSCI Euro Index. The fundbenefitted from market trends and stockselection, beating the broad market across themajority of sectors. Eight out of ten sectorscontributed to the fund’s outperformance duringQ3, with stock selection in materials, utilities andtelecoms contributing positively.

Equity returns were mostly impacted by theECB’s announcement of its intention to intervenein the sovereign bond market if countries accept

conditionality on fiscal measures. A number ofpolitical and economic events also strengthenedequity markets during Q3. Germany’sconstitutional court gave their backing to theEUR 500bn European Stability Mechanism(ESM) on September 12, paving the way to allowthe ECB to intervene in the bond markets.Investors saw this event as a confidence signaland reduced their risk aversion by buyingSpanish and Italian sovereign bonds, sendingtheir yields – which move inversely to bond prices– lower.

As a result, European equities rallied over Q3.Financials was the best performing sector overthe period. Also positive was the announcementof the intention to create the Single SupervisoryMechanism (SSM) to oversee banks in theeurozone during the quarter. The SSM will beginto operate in January 2013 and it is expectedto strengthen financial stability in the eurozone.Outside the EU, the Fed announced furtherquantitative easing during the quarter. Investorsinterpreted central banks’ commitment as amessage of confidence.


European equities’ strong quarterly performancediverged from the economic outlook over Q3,which has deteriorated. On the one hand,markets recovered from the losses of Q2 afterthe ECB President sent a confident messagethat it may intervene in disrupted sovereignmarkets if countries accept conditionality. On theother hand, equity valuations furtherdisconnected from earnings fundamentals. Thisbecame more evident in cyclical sectors, asinvestors have bought into equities anticipatingan earnings recovery that has so far notmaterialized. Although economic indicators in theeurozone continue to reveal economic weakness,

the rate of deterioration has declined. This,together with the commitment by Europeanpolitical and economic institutions to support theeuro, is positively impacting eurozone equitymarkets.

We have selectively reduced defensive positionsin some industries, such as in financials andutilities, to reflect lower market risk aversion.Looking ahead, we assume that the risk of apotential euro break-up has receded and thatcompanies will regain confidence to invest.However, demand in Europe remains subduedand emerging markets continue to grow below

trend at present.

At the individual level, European companies arevulnerable to profit taking in Q4 should they notrelease earnings in line with marketsexpectations. At a broader level, markets arestill attractively valued and, thus, can shrug offindividual stock corrections. In short, we do notdiscard the possibility of a short-term marketconsolidation but we think that equities continueto offer attractive mid-term value. Eurozoneequities continue to be supported by strongcash-flow generation and attractive bond yields.

Portfolio managementJulio Alberto Giró, Director, is Senior Portfolio Manager at Credit Suisse Asset Management. He joined Credit Suisse in 2008, having held previouslyinvestment positions at UBS, Winterthur Insurance (formerly part of Credit Suisse), ING Bank, Banco Mariva and Banco General the Negocios. Julio A.Giró has 19 years of investment experience. He holds a Degree in Business Administration (Licenciatura) from the University of Buenos Aires and an MScin Banking & Finance from the Université de Lausanne. He is a CFA charterholder


200

-3.12-1.58-0.88-0.84

0.72-0.91

0.490.10

6.60-0.57

Purchases SalesENEL INTESA SANPAOLOSOCIETE GENERALE PARIS a

KINNEVIK INVESTMENT AB b

Fund manager Julio Alberto GiróFund manager since 01/06/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 489.75Inception date 27/06/2011Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 0.97Benchmark (BM) MSCI EMU (NR)Unit Class Category I (capital

growth)




Credit Suisse SICAV One (Lux) Equity EurozoneClass I


2007 2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%

6.0

-43.8

24.4

6.4

-19.0

15.17.8

-44.9

27.3

2.4

-14.9

11.5

CS SICAV One (Lux) Equity Eurozone I Yearly or year-to-date performance respectively (Fund)MSCI EMU (NR) Yearly or year-to-date performance respectively (Benchmark)

simulation based on Equis Europe and F share class Track Record with adjusted Management Fee (06.12.2005-24.06.2011)


1 month 3 months YTD 1 year 3 years 5 yearsFund 1.32 10.24 15.11 22.46 2.45 -31.20Benchmark 1.25 8.42 11.51 17.85 -0.27 -32.33


Financials 16.49 19.61Industrials 11.07 12.65Consumer Staples 10.88 11.76Consumer Discretionary 10.72 11.56Health Care 9.55 8.83Materials 8.65 9.56Energy 8.62 8.13Utilities 6.81 6.71Cash/Cash Equivalents 6.60 -Others 10.62 11.19




Investment policyThe aim of the Fund is to achieve the highestpossible return by investing in Europeancompanies predominantly characterised by highprofitability, a sound financial structure andsuccessful management.

Fund facts


Bloomberg ticker CSEEZAI LXNet Asset Value 961.79


Cre

dit S

uiss

e S

ICA

V O

ne



201


Credit Suisse SICAV One (Lux) Equity EurozoneClass I


The fund rose 8.86% during Q3, outperformingthe 7.15% rise in the eurozone equity market,as measured by the MSCI Euro Index. The fundbenefitted from market trends and stockselection, beating the broad market across themajority of sectors. Eight out of ten sectorscontributed to the fund’s outperformance duringQ3, with stock selection in materials, utilities andtelecoms contributing positively.

Equity returns were mostly impacted by theECB’s announcement of its intention to intervenein the sovereign bond market if countries accept

conditionality on fiscal measures. A number ofpolitical and economic events also strengthenedequity markets during Q3. Germany’sconstitutional court gave their backing to theEUR 500bn European Stability Mechanism(ESM) on September 12, paving the way to allowthe ECB to intervene in the bond markets.Investors saw this event as a confidence signaland reduced their risk aversion by buyingSpanish and Italian sovereign bonds, sendingtheir yields – which move inversely to bond prices– lower.

As a result, European equities rallied over Q3.Financials was the best performing sector overthe period. Also positive was the announcementof the intention to create the Single SupervisoryMechanism (SSM) to oversee banks in theeurozone during the quarter. The SSM will beginto operate in January 2013 and it is expectedto strengthen financial stability in the eurozone.Outside the EU, the Fed announced furtherquantitative easing during the quarter. Investorsinterpreted central banks’ commitment as amessage of confidence.


European equities’ strong quarterly performancediverged from the economic outlook over Q3,which has deteriorated. On the one hand,markets recovered from the losses of Q2 afterthe ECB President sent a confident messagethat it may intervene in disrupted sovereignmarkets if countries accept conditionality. On theother hand, equity valuations furtherdisconnected from earnings fundamentals. Thisbecame more evident in cyclical sectors, asinvestors have bought into equities anticipatingan earnings recovery that has so far notmaterialized. Although economic indicators in theeurozone continue to reveal economic weakness,

the rate of deterioration has declined. This,together with the commitment by Europeanpolitical and economic institutions to support theeuro, is positively impacting eurozone equitymarkets.

We have selectively reduced defensive positionsin some industries, such as in financials andutilities, to reflect lower market risk aversion.Looking ahead, we assume that the risk of apotential euro break-up has receded and thatcompanies will regain confidence to invest.However, demand in Europe remains subduedand emerging markets continue to grow below

trend at present.

At the individual level, European companies arevulnerable to profit taking in Q4 should they notrelease earnings in line with marketsexpectations. At a broader level, markets arestill attractively valued and, thus, can shrug offindividual stock corrections. In short, we do notdiscard the possibility of a short-term marketconsolidation but we think that equities continueto offer attractive mid-term value. Eurozoneequities continue to be supported by strongcash-flow generation and attractive bond yields.

Portfolio managementJulio Alberto Giró, Director, is Senior Portfolio Manager at Credit Suisse Asset Management. He joined Credit Suisse in 2008, having held previouslyinvestment positions at UBS, Winterthur Insurance (formerly part of Credit Suisse), ING Bank, Banco Mariva and Banco General the Negocios. Julio A.Giró has 19 years of investment experience. He holds a Degree in Business Administration (Licenciatura) from the University of Buenos Aires and an MScin Banking & Finance from the Université de Lausanne. He is a CFA charterholder


202

-1.85-1.17

-5.140.191.62

6.35

Purchases SalesGeo Ciputra DevelopmentHomex IGB CorporationImmofinanz Robinsons LandUrbi AmataAsian Property Emlak

Fund manager Werner RichliFund manager since 01/01/2010Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 53.31Inception date 30/05/2008Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.15Benchmark (BM)

FTSE EPRA/NAREIT Emerging Index (NR) (05/10)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass B


2008 2009 2010 2011 201220

40

60

80

100

120

140

160

-80%

-60%

-40%

-20%

0%

20%

40%

60%

29.420.1

-27.4

28.338.3

25.0

-29.3

28.6

CS SICAV One (Lux) Equity Global Emerging MarketProperty B

Yearly or year-to-date performance respectively(Fund)

FTSE EPRA/NAREIT Emerging Index (NR) (05/10)Yearly or year-to-date performance respectively(Benchmark)




Homebuilding 44.81 46.66Diversified real estate 44.24 45.41REITs (Real Estate Investment Trusts) 2.79 7.93Building mat. and components 0.19 0.00Cash/Cash Equivalents 1.62 0.00Others 6.35 0.00

Countries in %

Brazil 27.10China 25.18South Africa 10.55Philippines 7.49Thailand 6.95Indonesia 6.43Russia 4.17Malaysia 3.55Mexico 2.63Others 5.95

Top 10 holdings in %China Land & Invest. 9.73Growthpoint Prop. 5.57BR Malls Participacoes 5.26China Res. Land 4.68Immofinanz Immo 4.06Yuexiu Property 3.03Ayala Land 2.85MRV Engenharia 2.62PT Lippo Karawaci Tbk. 2.38Cyrela Brazil Realty 2.35Total 42.53


Investment policyThe aim of the fund is to achieve the highestpossible risk adjusted return in USD by investingworldwide in equities and equity-type securitiesof real estate companies and closed-end RealEstate Investment Trusts (REITs) which aredomiciled in or carry out the bulk of their businessactivities in emerging countries.

Fund facts


Bloomberg ticker CSEQGPB LXNet Asset Value 8.12




Cre

dit S

uiss

e S

ICA

V O

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203


Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass B


On the back of the announced measures toresolve the euro crisis and to stimulate globalgrowth, emerging market real estate stocksperformed very well. The EPRA Emerging Index(all figures in US terms) ended the period witha gain of +10.5% (Q2 2012 -3.4%),outperforming the MSCI Emerging Index, whichwas up 7.9%. Top region was Latin America(+16.9%), ahead of EMEA (+12.1%) and Asia(+6.9%), whereby the single best performingproperty markets were Egypt (+35.9%), Brazil

(+25.3%), and India (+24.6%). Only Mexico(-8.3%) ended the quarter in red territory. Insector terms, retail stocks (+18.3%) rode thecrest, whereas diversified stocks (+7.7%) werenot sought in the market.

The quarterly index review, dated September 24,produced only minor adjustments with theinclusions of Malayan Mah Sing and Thai QualityHouses, and the deletion of Turkish Dogus.

The fund underperformed the benchmark by44bps (previous quarter +247bps). Topcontributors to the fund’s performance were theoverweight positions in the Brazilian stocks Ez,Helbor, and Aliansce, as well as in the Thaistocks Central Pattana and SC. Likewise, theunderweights of the Mexican homebuilders Urbiand Homex at the beginning of the period, and inthe Indonesian stock Bakrieland proved to be thecorrect choice.


Demographic developments such as increasingworking age population, strong annual GDPgrowth, increasing wealth, as well as lowerprivate and public debt compared to developedmarkets are all favorable long-term drivers forhousing and commercial real estate.

In the short-term, emerging market GDP growthhas stabilized at an annualized rate of 4.8%,but we envisage a pick-up in this rate in thecoming quarters to 6%. Based on the latest PMIdata, the expected rebound is most visible inLatin America. We expect that the fiscal policymeasures taken in Brazil and the significantinterest rate easing cycle implemented since

August 2011 will boost economic activity incoming quarters. In China, the recent cyclicalslowdown to some extent reflects choices ofpolicy designed to improve social stability.Structural concerns suggest that China’seconomy will be “slowing for longer”.

Credit Suisse expects year-on-year aggregateheadline inflation in emerging markets to edgeslightly lower in the remainder of 2012 to 3.5%from 5.2% in 2011. Next year, we expect ampleinterest rates adjustments in Brazil, South Africa,Indonesia, the Philippines and Thailand. In China,which is the biggest market in our universe, thereis a visible rebound in the property market since

May, in both volumes and prices. We expectmoderate price increases over the next 12months as pent-up demand is being releasedand given more activity in construction and landpurchases by developers.

Viewed over the whole portfolio, we preferhomebuilders over operating companies and overREITs. From a regional view, we are keepingthe overweight positions in Latin America, at theexpense of EMEA, whereby the biggest relativeexposures are in Brazil, the Philippines andThailand.

Portfolio managementWerner Richli is Portfolio Manager and Senior Investment Professional for real estate securities. Mr. Richli was previously an equity analystat Credit Suisse’s Investment Banking Division (Credit Suisse First Boston) covering European real estate stocks. Prior to this role, heanalyzed building materials, construction and utility stocks and was involved in several Initial Public Offerings. Mr. Richli joined Credit Suissein 1987. Mr. Richli is earned the CIIA designation and received a Master’s Degree in Business Administration from the University of Zurich,Switzerland.


204

-1.85-1.17

-5.140.191.62

6.35


Fund manager Werner RichliFund manager since 01/01/2010Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 53.31Inception date 06/10/2010Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.10Benchmark (BM)

FTSE EPRA/NAREIT Emerging Index (NR)Unit Class Category I (capital

growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass I


2010 2011 201260708090

100110120130140

-40%-30%-20%-10%

0%10%20%30%40%

-26.7

29.3

-29.3

28.6

CS SICAV One (Lux) Equity Global Emerging MarketProperty I


FTSE EPRA/NAREIT Emerging Index (NR)Yearly or year-to-date performance respectively(Benchmark)




Homebuilding 44.81 46.66Diversified real estate 44.24 45.41REITs (Real Estate Investment Trusts) 2.79 7.93Building mat. and components 0.19 0.00Cash/Cash Equivalents 1.62 0.00Others 6.35 0.00

Countries in %





Fund facts


Bloomberg ticker CSEQGIU LXNet Asset Value 933.47




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Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass I















206


Fund manager Werner RichliFund manager since 01/01/2010Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 53.31Inception date 30/05/2008Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.07Unit Class Category R - hedged

(capital growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass R CHF


2008 2009 2010 2011 201240

60

80

100

120

140

-60%

-40%

-20%

0%

20%

40%27.0

18.1

-28.8

26.7

CS SICAV One (Lux) Equity Global Emerging MarketProperty R CHF

Yearly or year-to-date performancerespectively (Fund)



Sectors in %Fund

Homebuilding 44.81Diversified real estate 44.24REITs (Real Estate Investment Trusts) 2.79Building mat. and components 0.19Cash/Cash Equivalents 1.62Others 6.35

Countries in %





Fund facts


Bloomberg ticker CSEQGRC LXNet Asset Value 7.46




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207


Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass R CHF















208


Fund manager Werner RichliFund manager since 01/01/2010Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 53.31Inception date 30/05/2008Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.10Unit Class Category R - hedged

(capital growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass R EUR


2008 2009 2010 2011 201220

40

60

80

100

120

140

-80%

-60%

-40%

-20%

0%

20%

40%27.1

18.7

-28.6

27.5

CS SICAV One (Lux) Equity Global Emerging MarketProperty R EUR




Sectors in %Fund

Homebuilding 44.81Diversified real estate 44.24REITs (Real Estate Investment Trusts) 2.79Building mat. and components 0.19Cash/Cash Equivalents 1.62Others 6.35

Countries in %





Fund facts


Bloomberg ticker CSEQGRE LXNet Asset Value 7.46




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Credit Suisse SICAV One (Lux) Equity Global EmergingMarket PropertyClass R EUR















210

2.65-9.53

0.150.44

4.120.02

-3.32-5.16

5.415.22

Purchases SalesISHARES SOUTHEAST ASIA MSCI INDIA INDEX

INFOSYS adrDB X-TRACKERS S&p CNX NIFTY 1c

CHINA MOBILELYXOR ETF MSCI INDIA a

ULTRAPAR PARTICIPACOESECOPETROL adr HYUNDAI MOBISHYUNDAI GLOVIS CO LTD PETROCHINA h

Fund managerGlobal Equity Investment Group, Powered by HOLT

Fund manager since 01/09/2010Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 430.33Inception date 20/01/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.15Benchmark (BM) MSCI EM (NR)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarketsClass B


2010 2011 201270

80

90

100

110

120

130

140

-30%

-20%

-10%

0%

10%

20%

30%

40%

-23.9

9.0

-18.4

12.0

CS SICAV One (Lux) Equity Global EmergingMarkets B






Information Technology 16.60 13.95Financials 15.38 24.91Energy 13.23 13.08Materials 12.43 11.99Consumer Discretionary 12.15 8.03Telecommunication Services 8.13 8.11Industrials 3.33 6.65Consumer Staples 3.29 8.45Cash/Cash Equivalents 5.41 -Others 10.06 4.84

Currencies in %

USD 21.97HKD 17.48KRW 12.38TWD 9.55BRL 9.46ZAR 5.24MXN 4.60EUR 4.41IDR 4.17Others 10.74

Countries in %

China 18.32Brazil 15.93South Korea 12.38Taiwan 9.55Russia 7.67India 7.12South Africa 5.24Mexico 4.60Indonesia 3.71Others 15.38

Significant Transactions Top 10 holdings in %Banco do Brazil 3.07ICBC 2.94Vale 2.87China Mobile 2.84Hyundai Motor 2.74Gazprom Oao 2.73Cnooc 2.72Lukoil 2.62Hon Hai Precision 2.44Samsung Electronics 2.42Total 27.39

Investment policyThe aim of the Fund is to achieve the highestpossible risk adjusted return in USD whilstinvesting in companies domiciled in EmergingMarkets or in global companies that execute thebulk of their business activities in EmergingMarkets.

Fund facts


Bloomberg ticker CSEMRGB LXNet Asset Value 9.58




Cre

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211


Credit Suisse SICAV One (Lux) Equity Global EmergingMarketsClass B


We began a review of the fund’s existingpositions in August, and spent the month ofSeptember transitioning the portfolio to theIndustrial Life Cycle (ILC) approach. As ofOctober 1, the portfolio is fully transitioned to thenew strategy. The portfolio has 79 positions thatprovide exposure to the best-in-class investmentopportunities across the five life cycle stages,nine sectors, and eighteen countries in the globalemerging markets universe.

Q3 was characterized by strong absolute returns,with a large portion taking place in September.Many of the trends in the market for the yearheld strong in the quarter, with Growth stagenames leading the market and Restructuringcompanies trailing. At the same time, momentumand earnings trends have been the dominantthemes, with valuation being the noticeablelaggard. There was a temporary reversal in thesetrends with the anticipation of the quantitativeeasing (QE3) announcement from the beginning

through the middle of September, with Valueoriented firms outperforming Momentum,Restructuring outperforming Growth, and cyclicalindustries such as Materials and Technologyoutperforming more stable groups such asTelecoms and Consumer Staples. As theexcitement of the announcement waned in thelatter part of the month, these trends all revertedback to their original patterns for the year.


Investors are anxious for positive economicnews, whether it be from China, Europe or theUS. Any hint of good news will lead to these

choppy inflection points. The portfolio that wehave assembled is well represented across allof these disparate areas of the market and is

therefore well positioned to take advantage ofmispricing regardless of the economic backdrop.

Portfolio managementThe fund is managed by the Global Equity Investment Group, Powered by HOLT. Being an integral part of Credit Suisse's Asset Management division, thegroup fully leverages on the business's leading position in the market. The investment team consists of senior fund managers with an average of 15 yearsof experience. Alfred Bryant, Elizabeth Eaton, Rushil Khanna, Todd Leigh, Christian Schmid and Christian Stauss bring in very diverse and complementaryskill sets. All team members have significant Emerging Market experience.


212

2.65-9.53

0.150.44

4.120.02

-3.32-5.16

5.415.22

Purchases SalesISHARES SOUTHEAST ASIA MSCI INDIA INDEX

INFOSYS adrDB X-TRACKERS S&p CNX NIFTY 1c

CHINA MOBILELYXOR ETF MSCI INDIA a

ULTRAPAR PARTICIPACOESECOPETROL adr HYUNDAI MOBISHYUNDAI GLOVIS CO LTD PETROCHINA h

Fund managerGlobal Equity Investment Group, Powered by HOLT

Fund manager since 01/09/2010Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 430.33Inception date 01/02/2010Management fee in % p.a. 0.90Total expense ratio (ex ante) in % 1.14Benchmark (BM) MSCI EM (NR)Unit Class Category I (capital

growth)




Credit Suisse SICAV One (Lux) Equity Global EmergingMarketsClass I


2010 2011 201270

80

90

100

110

120

130

140

-30%

-20%

-10%

0%

10%

20%

30%

40%

-23.1

9.8

-18.4

12.0

CS SICAV One (Lux) Equity Global EmergingMarkets I






Information Technology 16.60 13.95Financials 15.38 24.91Energy 13.23 13.08Materials 12.43 11.99Consumer Discretionary 12.15 8.03Telecommunication Services 8.13 8.11Industrials 3.33 6.65Consumer Staples 3.29 8.45Cash/Cash Equivalents 5.41 -Others 10.06 4.84

Currencies in %

USD 21.97HKD 17.48KRW 12.38TWD 9.55BRL 9.46ZAR 5.24MXN 4.60EUR 4.41IDR 4.17Others 10.74

Countries in %

China 18.32Brazil 15.93South Korea 12.38Taiwan 9.55Russia 7.67India 7.12South Africa 5.24Mexico 4.60Indonesia 3.71Others 15.38

Significant Transactions Top 10 holdings in %Banco do Brazil 3.07ICBC 2.94Vale 2.87China Mobile 2.84Hyundai Motor 2.74Gazprom Oao 2.73Cnooc 2.72Lukoil 2.62Hon Hai Precision 2.44Samsung Electronics 2.42Total 27.39

Investment policyThe aim of the Fund is to achieve the highestpossible risk adjusted return in USD whilstinvesting in companies domiciled in EmergingMarkets or in global companies that execute thebulk of their business activities in EmergingMarkets.

Fund facts


Bloomberg ticker CSEMRGI LXNet Asset Value 1,013.75




Cre

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213


Credit Suisse SICAV One (Lux) Equity Global EmergingMarketsClass I


We began a review of the fund’s existingpositions in August, and spent the month ofSeptember transitioning the portfolio to theIndustrial Life Cycle (ILC) approach. As ofOctober 1, the portfolio is fully transitioned to thenew strategy. The portfolio has 79 positions thatprovide exposure to the best-in-class investmentopportunities across the five life cycle stages,nine sectors, and eighteen countries in the globalemerging markets universe.

Q3 was characterized by strong absolute returns,with a large portion taking place in September.Many of the trends in the market for the yearheld strong in the quarter, with Growth stagenames leading the market and Restructuringcompanies trailing. At the same time, momentumand earnings trends have been the dominantthemes, with valuation being the noticeablelaggard. There was a temporary reversal in thesetrends with the anticipation of the quantitativeeasing (QE3) announcement from the beginning

through the middle of September, with Valueoriented firms outperforming Momentum,Restructuring outperforming Growth, and cyclicalindustries such as Materials and Technologyoutperforming more stable groups such asTelecoms and Consumer Staples. As theexcitement of the announcement waned in thelatter part of the month, these trends all revertedback to their original patterns for the year.


Investors are anxious for positive economicnews, whether it be from China, Europe or theUS. Any hint of good news will lead to these

choppy inflection points. The portfolio that wehave assembled is well represented across allof these disparate areas of the market and is

therefore well positioned to take advantage ofmispricing regardless of the economic backdrop.

Portfolio managementThe fund is managed by the Global Equity Investment Group, Powered by HOLT. Being an integral part of Credit Suisse's Asset Management division, thegroup fully leverages on the business's leading position in the market. The investment team consists of senior fund managers with an average of 15 yearsof experience. Alfred Bryant, Elizabeth Eaton, Rushil Khanna, Todd Leigh, Christian Schmid and Christian Stauss bring in very diverse and complementaryskill sets. All team members have significant Emerging Market experience.


214

15.528.127.105.10

-11.50-11.82

-6.411.380.87

-8.40

Purchases SalesMITSUBISHI CHEMICAL HOLDINGS JX HOLDINGSMITSUBISHI GAS CHEMICAL NIKKISOHOKURIKU ELECTRIC POWER

ADVANCE RESIDENCE INVESTMENTNTT MITSUBISHI HEAVY INDUSTRIESMITSUBISHI MATERIALS MITSUBISHI MATERIALS

Fund manager Gregor TrachselFund manager since 14/07/2010Location ZürichFund domicile LuxembourgFund currency JPYClose of financial year 31. MayTotal net assets (in millions) 15,490.28Inception date 30/03/2011Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.18Benchmark (BM) MSCI Japan (NR)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) Equity Japan ValueClass B

Net performance in JPY (rebased to 100) and yearly performance 1)

2011 201275

80

85

90

95

100

105

110

-25%

-20%

-15%

-10%

-5%

0%

5%

10%7.1

3.4

CS SICAV One (Lux) Equity Japan Value B Yearly or year-to-date performance respectively (Fund)MSCI Japan (NR) Yearly or year-to-date performance respectively (Benchmark)

Net performance in JPY 1)

1 month 3 months YTD 1 year 3 years 5 yearsFund 2.03 -3.05 7.08 1.38 - -Benchmark 1.67 -3.32 3.41 -0.76 - -


Industrials 35.70 20.18Consumer Staples 15.15 7.03Materials 13.56 6.46Utilities 8.06 2.96Consumer Discretionary 7.83 19.33Financials 6.95 18.77Information Technology 4.97 11.38Energy 2.98 1.60Cash/Cash Equivalents 0.87 -Others 3.91 12.31



Top 10 holdings in %JX Holdings 1.57Mitsubishi Heavy Ind. 1.53Okinawa Electric Power 1.52Nikkiso 1.49Hokuriku Electric Power 1.47Mitsubishi Materials 1.47Gakken Hld Co. Ltd 1.45Mitsubishi Shokuhin 1.45Hokuto 1.44Inpex 1.41Total 14.80


Investment policyThe Credit Suisse SICAV One (Lux) EquityJapan Value pursues a "deep value" approachbased on the classic Graham & Dodd discipline.To this end the fund invests in undervaluedcompanies which are domiciled or conduct amajority of their business activities in Japan. Theinvestment decisions are not made on the basisof a benchmark; nevertheless, investors can usethe MSCI Japan Index as a long-term yardstick.The value approach can deliver above-averageresults over a long period because it disciplinesinvestors not to pay too much for an investment.

Fund facts

Unit class currency JPY

Bloomberg ticker CSEJPVB LXNet Asset Value 953.00


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215


Credit Suisse SICAV One (Lux) Equity Japan ValueClass B


Performance: Net asset value (F-shares)declined by 2.71% in Q3 2012 and rose by8.22% year-to-date. Since the Fund becameresponsibility of the Value Team on July 14,2010, it has generated a total net return of2.18%.

Transactions: Due to a merger situation, asmaller fund was absorbed into our Fund in themiddle of September. The security positioning of

the absorbed fund was fully restructured beforethe combination. Hence, it already fully fit intoour Fund’s portfolio strategy and structure uponexecution of the transaction. Other than theadditions arising from this merger, there were nonew positions or exits during the reporting period.The cash balance remains low at less than 1% ofAuM.

Corporate actions / mergers and acquisitions:

There were no major events affecting ourportfolio companies.

Commentary: There were no alterations inportfolio strategy (see outlook section below) orstructure in Q3 2012. For more topics andissues, please consult the separate quarterlycommentary on the global strategy.


The medium to long-term strategy (5-10 years)followed by the Fund places its emphasis on fourmain investment situations:









216

-0.28-0.20-0.39

0.30-1.02

0.24-1.50

1.151.09

0.61

Purchases SalesROYAL DUTCH SHELL a

ISHARES DJ EURO STOXX 50ISHARES DJ EURO STOXX 50 BRITVICNESTLE reg NESTLE regBHP BILLITON ROYAL DUTCH SHELL aHSBC HOLDINGS BHP BILLITON

Fund manager Felix Maag, Nicola NolèFund manager since 09/09/2009, 01/04/2011Location Zürich, ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 278.18Inception date 09/09/2009Management fee in % p.a. 1.60Total expense ratio (ex ante) in % 1.89Benchmark (BM) MSCI Europe (NR)Unit Class Category A

(distribution)


Last distribution 14/06/2012Distribution value 0.24Redemptions DailyEU taxation In scope - no tax


Credit Suisse SICAV One (Lux) European Equity DividendPlusClass A & B


2009 2010 2011 201280

90

100

110

120

130

140

-20%

-10%

0%

10%

20%

30%

40%

7.8

-6.5

11.211.1

-8.1

12.3

CS SICAV One (Lux) European Equity DividendPlus B


MSCI Europe (NR)Yearly or year-to-date performance respectively(Benchmark)




Financials 18.90 19.18Consumer Staples 14.64 14.84Health Care 11.93 12.32Energy 11.71 11.41Industrials 9.81 10.83Consumer Discretionary 8.74 8.50Materials 8.04 9.54Telecommunication Services 7.21 6.06Cash/Cash Equivalents 1.09 -Others 7.93 7.32

Currencies in %

EUR 41.63GBP 35.82CHF 12.95SEK 5.47NOK 3.67CZK 0.26USD 0.20

Countries in %

United Kingdom 35.21Switzerland 12.95France 12.47Germany 11.59Netherlands 9.86Sweden 5.35Norway 3.52Finland 3.31Italy 3.24Others 2.48

Top 10 holdings in %Nestlé 4.29Royal Dutch Shell 'A' 4.04BHP Billiton 3.60HSBC Holdings 3.30Roche 3.11GlaxoSmithKline 2.96Vodafone 2.92British Am. Tobacco 2.63Sanofi-Aventis 2.46BASF 2.42Total 31.73


Investment policyThe subfund invests in a broadly diversifiedEuropean equity portfolio that can be expected toyield above-average dividends.

Fund facts



Bloomberg ticker CSEUEQA LX CSEUEQB LXNet Asset Value 11.19 11.93

--

Daily




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Credit Suisse SICAV One (Lux) European Equity DividendPlusClass A & B


During Q3 global equity markets were heavilysupported by policy actions that reduced thelikelihood of a negative tail risk event, includingthe ECB’s pledge to buy peripheral debt up to3-years in maturity, the German constitutionalcourt’s ratification of the ESM (EuropeanStability Mechanism), elections in theNetherlands (which saw pro-European partiesgaining victory), the proposal to give the ECBregulatory powers over banks, and the Fed’sannouncement of QE3 (third round of

quantitative easing). So, despite mixed globalmacro data and some cautious companyguidances, European equities managed toadvance.

Sector-wise, once more there was a classicalrotation from Q2 to Q3. In fact, the more cyclicalsectors – which were the laggards in Q2 –considerably outperformed the more defensivesectors during this reporting period. Accordinglyfinancials, IT and materials performed best as

investors were prepared to take on more riskon the back of actions by central banks. Onthe other hand the typical defensive sectors liketelecommunication services and utilitiesunderperformed quite substantially.

In terms of the performance related to thedividend style, the analysis is not clear cut. Infact, the quintiles with the highest and lowestyielding stocks underperformed the benchmark,whereas the rest of the quintiles did outperform.


The most recent policy actions have supportedglobal equity markets over the past few weeks.Following the recent run, we expect some profittaking is possible in the near future. Mediumto longer-term, however, we remain constructivefor equities as we fundamentally expect to seefurther upward movement in stock markets,which is likely to be driven to a large extend byaggressive central bank policies, the scarcity ofinvestment opportunities in the face of ultra-lowinterest rates and the far too conservativepositioning that most investors are still

maintaining. Based on our analysis, any marketsetbacks would continue to present buyingopportunities.

In addition, we are convinced thatmacroeconomic strength and rising corporateprofits are unlikely to be seen again in the yearahead. Instead, the supportive factors citedabove are likely to significantly boostprice-to-earnings (P/E) ratios for stocks.However, the risks shouldn’t be underestimated.Alongside the implementation risks engendered

by the renewed debate about a eurozonebanking union and further assistance for Greece,it is mainly geopolitical risks and talk surroundingthe upcoming US elections and fiscal cliff thatare keeping a lid on investor euphoria. We expecta benign environment for high dividend yieldinvesting, as we see central banks leavinginterest rates on very low levels for a prolongedtime and dividend yields compare very favorablyto corporate bond yields in many sectors.

Portfolio managementDr. Felix Maag is Portfolio Manager in the Global Equity Team. He graduated from the University of St. Gallen with a Masters in BusinessAdministration and Economics in 1995. He subsequently worked as a research assistant at the Swiss Institute of Banking and Finance atthe University of St. Gallen. He earned his doctorate in Finance from the University of St. Gallen in 1999. From 1999 to 2001 Mr. Maagworked as a Portfolio Manger for Swiss Equity Mandates. Since August 2001 he is a portfolio manager in the Global Equity Team. FelixMaag worked at the Equity Research Department of Credit Suisse Asset Management New York from March to August 2002. He is aChartered Financial Analyst (CFA).


218

-0.28-0.20-0.39

0.30-1.02

0.24-1.50

1.151.09

0.61



Fund manager Felix Maag, Nicola NolèFund manager since 09/09/2009, 01/04/2011Location Zürich, ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 278.18Inception date 12/10/2009Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 0.99Benchmark (BM) MSCI Europe (NR)Unit Class Category I (capital

growth)




Credit Suisse SICAV One (Lux) European Equity DividendPlusClass I


2009 2010 2011 201280

90

100

110

120

130

140

-20%

-10%

0%

10%

20%

30%

40%

9.1

-5.5

12.011.1

-8.1

12.3

CS SICAV One (Lux) European Equity DividendPlus I


MSCI Europe (NR)Yearly or year-to-date performance respectively(Benchmark)




Financials 18.90 19.18Consumer Staples 14.64 14.84Health Care 11.93 12.32Energy 11.71 11.41Industrials 9.81 10.83Consumer Discretionary 8.74 8.50Materials 8.04 9.54Telecommunication Services 7.21 6.06Cash/Cash Equivalents 1.09 -Others 7.93 7.32

Currencies in %


Countries in %





Fund facts


Bloomberg ticker CSEUEQI LXNet Asset Value 1,210.88




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Credit Suisse SICAV One (Lux) European Equity DividendPlusClass I














220



Fund manager Felix Maag, Nicola NolèFund manager since 09/09/2009, 01/04/2011Location Zürich, ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 278.18Inception date 17/03/2011Management fee in % p.a. 1.60Total expense ratio (ex ante) in % 1.86Unit Class Category R - hedged

(capital growth)




Credit Suisse SICAV One (Lux) European Equity DividendPlusClass R CHF


2011 201285

90

95

100

105

110

115

-15%

-10%

-5%

0%

5%

10%

15%10.6

CS SICAV One (Lux) European Equity Dividend Plus RCHF




Sectors in %Fund

Financials 18.90Consumer Staples 14.64Health Care 11.93Energy 11.71Industrials 9.81Consumer Discretionary 8.74Materials 8.04Telecommunication Services 7.21Cash/Cash Equivalents 1.09Others 7.93

Currencies in %



Countries in %





Fund facts


Bloomberg ticker CSEEDRC LXNet Asset Value 10.58




Cre

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221


Credit Suisse SICAV One (Lux) European Equity DividendPlusClass R CHF














222

Fund manager Zurich Convertible Bonds TeamFund manager since 19/10/2009Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 183.95Inception date 19/10/2009Management fee in % p.a. 1.20Total expense ratio (ex ante) in % 1.43Benchmark (BM)

UBS Global CB Focus (RI) (Hedged into USD)Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 139


Credit Suisse SICAV One (Lux) Global ConvertiblesClass B USD


2009 2010 2011 20129095

100105110115120125130

-10%-5%0%5%

10%15%20%25%30%

8.8

-5.0

7.39.4

-4.6

8.4

CS SICAV One (Lux) Global Convertibles B Yearly or year-to-date performance respectively (Fund)UBS Global CB Focus (RI) (Hedged intoUSD)




Sectors in %Consumer Goods (non-cyclical) 18.63Financials 13.90Technology 12.82Industrials 12.49Communication 10.66Consumer Goods (cyclical) 10.57Energy 7.57Cash/Cash Equivalents 2.88Others 10.48

Credit Ratings in %

AAA 4.49AA (Bucket) 1.10A (Bucket) 28.96BBB (Bucket) 34.17BB (Bucket) 20.83B (Bucket) 9.99CCC (Bucket) 0.45


%Maturity as % of

assetsIntel 2.950 15/12/35 3.00KDDI CV 0.000 14/12/15 2.87Amgen 0.375 01/02/13 2.51Orix 1.000 31/03/14 2.25Lukoil Intl. Fin. 2.625 16/06/15 1.83KFW 3.250 27/06/13 1.78BILLIONEXPRESS

0.750 18/10/15 1.72

Aabar Invest 4.000 27/05/16 1.68Medtronic 1.625 15/04/13 1.63SiemensFinanciering

1.650 16/08/19 1.62

Total 20.89

Duration and Yield 3)

Delta in % 42.40Gross portfolio yield in % -1.68Average remaining term to maturity in years 4.13Modified duration in years 3.953) Due to the optionalities involved in the structure of convertiblebonds, certain assumptions must be applied in order to calculatethese figures.



Investment policyThe fund provides an actively managed exposureto global convertibles as a most efficientmulti-asset class strategy involving equity, creditand volatility on a globally diversified basis, withthe aim of achieving superior risk-adjustedreturns. The risk profile is comparable to that of aclassic balanced fund. The fund invests mainly inconvertible securities issued by public and privateissuers. Traditional bonds, equity and structuredproducts may be held in complement.Investments are made globally with norestrictions as to country or currency.

Fund facts


Bloomberg ticker CGBCVBE LXNet Asset Value 112.64


Number of holdings


Average = BB+C

redi

t Sui

sse

SIC

AV

One



223


Credit Suisse SICAV One (Lux) Global ConvertiblesClass B USD


Following a weak Q2, Q3 saw a significantupswing with gains of 3.3% for global investmentgrade convertibles with a focus on balancedprofiles. Strong equity markets were the maincontributing factor, though Japan was theweakest region. Market sentiment improvedfurther following the Q1 equity rally, bringing theYTD performance of global balanced investmentgrade convertibles close to 7%. Monetarymeasures taken by the ECB and the Fed gavethe market the necessary confidence for furthereconomic improvement. The ECB's

announcement that it would - under certainconditions - buy government bonds incrisis-stricken countries to an unlimited extentshould not give the impression that the problemsof the eurozone's real economy have now beenfixed.

All in all, credit spreads tightened during Q3 onthe back of improving equities and sentimentand gave further support for convertible bonds.Names with lower ratings experienced thegreatest effect. New convertible issuance

increased significantly during the quarter.September 2012 saw the primary marketre-open with new issuance totalling USD10.3bn,representing approximately 70% of the Q3 total.Europe saw the largest proportion of issuance aswell as its highest month YTD, with UBS andBNP coming to the market with Sofina issuinga bond plus warrant unit exchangeable into GDFSuez. Other interesting deals of note include:Unibail 0.75% 2018 (USD 950m), British Land1.5% 2017 (USD 635m) and NextEra Energy$2.9447 2015 (USD 630m).


Although the global economy didn’t improve inleaps and bounds in Q3, the sustainedstabilization tendencies seen in the wake of thenoticeable spring slowdown in economic activitywere viewed positively by the markets. Theirfriendly reaction can be attributed to the ongoingdiscrepancy between robust personalconsumption and relatively weak manufacturingactivity, as well as to significantly expandedmonetary policy actions. If personal consumptioncan continue growing at the present pace,decreasing inventory stockpiles in the monthsahead will automatically spark a noticeable

pick-up in industrial production.

We remain optimistic about the macroeconomictrend. At the moment, the biggest threat to ourscenario is posed by geopolitical risks that coulddrive up the oil price. The fiscal policy headwindfacing the US economy is likely to remain ahot topic of discussion in the weeks ahead. Ifthe various economic stimulus programs are notprolonged, the risk of a recession would palpablyincrease. On the whole, however, we areproceeding on the assumption – even against thebackdrop of the upcoming elections – that there

will be only a moderate fiscal headwind.

Our equity-sensitivity weighting remains slightlyoverweight for now, but we would do someadditional buying on price dips. Europe remainsour favorite region in view of the low valuationsthere. Emerging markets so far have profitedonly to a limited extent from the brightening ofsentiment, but for the months ahead we seerelative potential and are therefore sticking withour moderate equity-sensitivity overweight ofemerging market names.

Portfolio managementThe portfolio is managed by a team of experienced investment professionals who are based in Zurich. The fund is managed according to the team's view onsecurity selection, equity sectors, equity sensitivity, credit, and duration. The team includes several portfolio managers who contribute to the co-managementof the fund according to their area of expertise.


224


UBS Global CB Focus (RI) (Hedged into CHF)Swinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)



Fund 139


Credit Suisse SICAV One (Lux) Global ConvertiblesClass R CHF


2009 2010 2011 20129095

100105110115120125130

-10%-5%0%5%

10%15%20%25%30%

7.8

-5.8

6.59.0

-4.8

8.0

CS SICAV One (Lux) Global Convertibles RCHF


UBS Global CB Focus (RI) (Hedged into CHF)Yearly or year-to-date performance respectively(Benchmark)




Credit Ratings in %



%Maturity as % of


0.750 18/10/15 1.72


1.650 16/08/19 1.62

Total 20.89






Fund facts


Bloomberg ticker CGBCVRC LXNet Asset Value 110.64


Number of holdings


Average = BB+C

redi

t Sui

sse

SIC

AV

One



225


Credit Suisse SICAV One (Lux) Global ConvertiblesClass R CHF














226


UBS Global CB Focus (RI) (Hedged into EUR)Swinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)



Fund 139


Credit Suisse SICAV One (Lux) Global ConvertiblesClass R EUR


2009 2010 2011 20129095

100105110115120125130

-10%-5%0%5%

10%15%20%25%30%

8.3

-5.3

7.09.2

-4.2

8.2

CS SICAV One (Lux) Global Convertibles REUR


UBS Global CB Focus (RI) (Hedged into EUR)Yearly or year-to-date performance respectively(Benchmark)




Credit Ratings in %



%Maturity as % of


0.750 18/10/15 1.72


1.650 16/08/19 1.62

Total 20.89






Fund facts


Bloomberg ticker CGBCVRE LXNet Asset Value 113.47


Number of holdings


Average = BB+C

redi

t Sui

sse

SIC

AV

One



227


Credit Suisse SICAV One (Lux) Global ConvertiblesClass R EUR














228

-0.660.02

-0.08-0.38-0.33

-3.00-1.11-0.05

0.724.87

Purchases SalesSPDR S&P500 TRUST unit 1

SPDR S&P500 TRUST unit 1CHEVRON BRITVICMICROSOFT MATTELPFIZER DARDEN RESTAURANTSMERCK & CO CHEVRON

Fund manager Felix Maag, Aude ScheuerFund manager since 09/04/2010, 01/04/2011Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 63.69Inception date 15/04/2010Management fee in % p.a. 1.60Total expense ratio (ex ante) in % 1.84Benchmark (BM) MSCI World (NR)Unit Class Category A

(distribution)


Last distribution 14/06/2012Distribution value 0.13Redemptions DailyEU taxation In scope - no tax


Credit Suisse SICAV One (Lux) Global Equity Dividend PlusClass A & B


2010 2011 2012859095

100105110115120125

-15%-10%-5%0%5%

10%15%20%25%

-2.7

11.3

-5.5

13.0

CS SICAV One (Lux) Global Equity DividendPlus B


MSCI World (NR)Yearly or year-to-date performance respectively(Benchmark)




Financials 18.48 19.14Energy 10.86 10.84Industrials 10.57 10.65Consumer Staples 10.49 10.87Health Care 10.35 10.68Information Technology 9.62 12.62Consumer Discretionary 9.59 10.70Materials 6.80 6.85Cash/Cash Equivalents 0.72 -Others 12.53 7.66

Currencies in %

USD 51.25EUR 14.05GBP 11.13CAD 4.89HKD 3.88JPY 3.41AUD 3.02SGD 2.85NOK 2.64Others 2.88

Countries in %

USA 46.73United Kingdom 11.06Canada 4.85France 3.98Germany 3.81Netherlands 3.60Hong Kong 3.53Japan 3.36Australia 3.01Others 16.09

Top 10 holdings in %Standard & Poor's DRT S1 3.46Chevron 2.52Pfizer 2.19Merck 2.12Microsoft 2.11Philip Morris Intl. 1.81Royal Dutch Shell 'A' 1.56Intel 1.55General Electric 1.44Transcanada 1.43Total 20.19


Investment policyThe subfund invests in broadly diversified equityportfolio on a worldwide basis which can beexpected to generate an above-average dividendyield.

Fund facts


Unit classcurrency

USD USD

LU0439730457Bloomberg ticker CSGEDPA

LXCGSEDPB LX


Daily




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229


Credit Suisse SICAV One (Lux) Global Equity Dividend PlusClass A & B


During Q3 global equity markets were heavilysupported by policy actions that reduced thelikelihood of a negative tail risk event, includingthe ECB’s pledge to buy peripheral debt up to3-years in maturity, the German constitutionalcourt’s ratification of the ESM (EuropeanStability Mechanism), elections in theNetherlands (which saw pro-European partiesgaining victory), the proposal to give the ECBregulatory powers over banks, and the Fed’sannouncement of QE3 (third round ofquantitative easing). So, despite mixed global

macro data and some cautious companyguidances, European equities managed toadvance.

Sector-wise, once more there was a classicalrotation from Q2 to Q3. In fact, the more cyclicalsectors – which were the laggards in Q2 –considerably outperformed the more defensivesectors during this reporting period. Accordinglyenergy, financials and materials performed bestas investors were prepared to take on more riskon the back of actions by central banks. On

the other hand the typical defensive sectors likeutilities, consumer staples andtelecommunication services underperformedquite substantially.

In terms of the performance related to thedividend style, the analysis is not clear cut. Infact, the two quintiles with the higher yieldingstocks outperformed but so did the quintile withthe lowest dividend yields.








230

Purchases SalesSPDR S&P500 TRUST unit 1

SPDR S&P500 TRUST unit 1CHEVRON BRITVICMICROSOFT MATTELPFIZER DARDEN RESTAURANTSMERCK & CO CHEVRON

Fund manager Felix Maag, Aude ScheuerFund manager since 09/04/2010, 01/04/2011Location Zürich, ZürichFund domicile LuxembourgFund currency USDClose of financial year 31. MayTotal net assets (in millions) 63.69Inception date 15/04/2011Management fee in % p.a. 1.60Total expense ratio (ex ante) in % 1.88Unit Class Category R - hedged

(capital growth)




Credit Suisse SICAV One (Lux) Global Equity Dividend PlusClass R CHF


2011 201280

85

90

95

100

105

110

115

-20%

-15%

-10%

-5%

0%

5%

10%

15%10.3

CS SICAV One (Lux) Global Equity Dividend Plus RCHF




Sectors in %Fund

Financials 18.48Energy 10.86Industrials 10.57Consumer Staples 10.49Health Care 10.35Information Technology 9.62Consumer Discretionary 9.59Materials 6.80Cash/Cash Equivalents 0.72Others 12.53

Currencies in %

USD 51.25EUR 14.05GBP 11.13CAD 4.89HKD 3.88JPY 3.41AUD 3.02SGD 2.85NOK 2.64Others 2.88


Countries in %

USA 46.73United Kingdom 11.06Canada 4.85France 3.98Germany 3.81Netherlands 3.60Hong Kong 3.53Japan 3.36Australia 3.01Others 16.09

Top 10 holdings in %Standard & Poor's DRT S1 3.46Chevron 2.52Pfizer 2.19Merck 2.12Microsoft 2.11Philip Morris Intl. 1.81Royal Dutch Shell 'A' 1.56Intel 1.55General Electric 1.44Transcanada 1.43Total 20.19


Investment policyThe subfund invests in broadly diversified equityportfolio on a worldwide basis which can beexpected to generate an above-average dividendyield.

Fund facts


Bloomberg ticker CSGEDRC LXNet Asset Value 9.96




Cre

dit S

uiss

e S

ICA

V O

ne



231


Credit Suisse SICAV One (Lux) Global Equity Dividend PlusClass R CHF


During Q3 global equity markets were heavilysupported by policy actions that reduced thelikelihood of a negative tail risk event, includingthe ECB’s pledge to buy peripheral debt up to3-years in maturity, the German constitutionalcourt’s ratification of the ESM (EuropeanStability Mechanism), elections in theNetherlands (which saw pro-European partiesgaining victory), the proposal to give the ECBregulatory powers over banks, and the Fed’sannouncement of QE3 (third round ofquantitative easing). So, despite mixed global

macro data and some cautious companyguidances, European equities managed toadvance.

Sector-wise, once more there was a classicalrotation from Q2 to Q3. In fact, the more cyclicalsectors – which were the laggards in Q2 –considerably outperformed the more defensivesectors during this reporting period. Accordinglyenergy, financials and materials performed bestas investors were prepared to take on more riskon the back of actions by central banks. On

the other hand the typical defensive sectors likeutilities, consumer staples andtelecommunication services underperformedquite substantially.

In terms of the performance related to thedividend style, the analysis is not clear cut. Infact, the two quintiles with the higher yieldingstocks outperformed but so did the quintile withthe lowest dividend yields.








232

Fund manager Team MACSFund manager since 31/05/2012Location ZurichFund domicile LuxembourgFund currency CHFClose of financial year 31. MayTotal net assets (in millions) 11.61Inception date 29/09/2009Management fee in % p.a. 1.15Total expense ratio (ex ante) in % 1.44Benchmark (BM)

CB CS SICAV One (Lux) IS Balanced (Sfr)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) IndexSelection Balanced (Sfr)Class B


2009 2010 2011 201290

95

100

105

110

-10%

-5%

0%

5%

10%

-0.6

-8.1

6.5

2.2

-2.0

6.8

CS SICAV One (Lux) IndexSelection Balanced(Sfr) B


CB CS SICAV One (Lux) IS Balanced (Sfr)Yearly or year-to-date performance respectively(Benchmark)


1 month 3 months YTD 1 year 3 years 5 yearsFund 0.65 3.82 6.54 9.02 -0.84 -Benchmark 1.38 4.40 6.76 10.78 9.45 -




CHF 77.70USD 11.30EUR 4.90GBP 3.30JPY 2.80


Switzerland 4.40 12.50 10.10 - 27.00Emerging Markets - 2.80 6.30 - 9.10Euroland - 20.80 14.10 - 34.90UK - - 3.20 - 3.20USA - - 10.90 - 10.90Japan - - 2.80 - 2.80Others - - - 12.10 12.10Total 4.40 36.10 47.40 12.10 100.00

Investment policyThe primary investment objective of CS SICAVOne (Lux) IndexSelection Balanced (Sfr) isreal-term capital preservation and long-termcapital enhancement through regular income, aswell as capital and currency gains. The fundinvests in a broadly diversified portfolio ofindex-linked instruments such as exchangetraded funds (ETFs), investment funds,structured products, and derivatives. The fundis invested worldwide in equities, bonds,currencies, commodities, and other alternativeinvestments.

Fund facts


Bloomberg ticker CSOIBSB LXNet Asset Value 99.16



DurationModified duration in years 5.60

Allocation of bonds in %Corporate Bonds 44.50Government 27.70High Yield Bonds 11.00Inflation Linked Bonds 9.00Emerging Market Bonds 7.80Total 100.00

Top 10 holdings in %Vanguard Stock Index 9.72CS ETF (IE) on MSCI EMU 9.66Vanguard Inv. Grade Bd 7.19CSIF on Switzerland Bond Index AAA-AA 7.07CS ETF (IE) S&P 500 5.35CS ETF (Lux) on MSCI Em. Markets 4.06Ishares Iboxx Euro 3.79Vanguard Gvt Bond Index 3.59ZKB SXI Real Estate Funds Tracker 3.49ETFS ETC on Gold 3.37Total 57.29


Cre

dit S

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e S

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V O

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233


CB CS SICAV One (Lux) IS Capital Gains Or. (Sfr)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) IndexSelection Capital GainsOriented (Sfr)Class B


2009 2010 2011 201285

90

95

100

105

110

-15%

-10%

-5%

0%

5%

10%

-0.3

-9.9

7.5

2.0

-4.3

8.2

CS SICAV One (Lux) IndexSelection Capital GainsOriented (Sfr) B


CB CS SICAV One (Lux) IS Capital Gains Or. (Sfr)Yearly or year-to-date performance respectively(Benchmark)






CHF 73.50USD 14.00EUR 5.00GBP 3.90JPY 3.60




Allocation of bonds in %Corporate Bonds 42.30Government 22.50High Yield Bonds 15.00Emerging Market Bonds 11.10Inflation Linked Bonds 9.10Total 100.00

Top 10 holdings in %Vanguard Stock Index 14.80CS ETF (IE) on MSCI EMU 14.01CS ETF (IE) S&P 500 6.93CS ETF (Lux) on MSCI Em. Markets 6.59Ishares FTSE 100 3.71ZKB SXI Real Estate Funds Tracker 3.16CS ETF (IE) on Dow Jones Industrial 3.05CSIF on Switzerland Bond Index AAA-AA 3.05Vanguard Inv. Grade Bd 2.88ETFS ETC on Gold 2.70Total 60.88

Investment policyThe investment objective of CS SICAV One (Lux)IndexSelection Capital Gains Oriented (Sfr) is toachieve the highest possible total return in Swissfrancs. The fund invests in a broadly diversifiedportfolio of index-linked instruments such asexchange traded funds (ETFs), investmentfunds, structured products, and derivatives. Thefund is invested worldwide in equities, bonds,currencies, commodities, and other alternativeinvestments.

Fund facts


Bloomberg ticker CSOICSB LXNet Asset Value 99.10




234




CB CS SICAV One (Lux) IS Income Oriented (Sfr)Unit Class Category B

(capital growth)




Credit Suisse SICAV One (Lux) IndexSelection IncomeOriented (Sfr)Class B


2009 2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

-0.3

-6.2

5.7

2.50.3

5.3

CS SICAV One (Lux) IndexSelection IncomeOriented (Sfr) B


CB CS SICAV One (Lux) IS Income Oriented (Sfr)Yearly or year-to-date performance respectively(Benchmark)






CHF 83.00USD 7.20EUR 7.20GBP 1.40JPY 1.20CAD 0.00



Investment policyThe investment objective of CS SICAV One (Lux)IndexSelection Income Oriented (Sfr) is toachieve an appropriate return in Swiss francs.The fund invests in a broadly diversified portfolioof index-linked instruments such as exchangetraded funds (ETFs), investment funds,structured products, and derivatives. The fundis invested worldwide in equities, bonds,currencies, commodities, and other alternativeinvestments.

Fund facts


Bloomberg ticker CSOIISB LXNet Asset Value 99.89




Allocation of bonds in %Corporate Bonds 42.10Government 35.10Inflation Linked Bonds 9.40Emerging Market Bonds 7.00High Yield Bonds 6.40Total 100.00

Top 10 holdings in %CSIF on Switzerland Bond Index AAA-AA 9.93Vanguard Gvt Bond Index 9.14Vanguard Inv. Grade Bd 8.86Vanguard Global Bond Index 5.95CSIF on Switzerland Bond Index AAA-AA 5.91CS ETF (IE) on MSCI EMU 5.67DB X-Trackers 5.39Vanguard Stock Index 3.87Ishares Iboxx Euro 3.64ZKB SXI Real Estate Funds Tracker 3.22Total 61.58


Cre

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235

Fund manager Felix MeierFund manager since 26/07/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 66.73Inception date 26/07/2010Management fee in % p.a. 2.00Performance fee in % with Highwatermark 20.00Benchmark (BM)DJ CS Blue Chip Index Long/Short Equity (EUR-Hgd)




Credit Suisse SICAV One (Lux) Small and Mid Cap AlphaLong/ShortClass B


2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

-3.8

0.0

-3.4

7.0

CS SICAV One (Lux) Small and Mid Cap AlphaLong/Short B


DJ CS Blue Chip Index Long/Short Equity(EUR-Hgd)





Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 4.15 3.66 -1.41 -0.48 -4.95 -0.69 -1.64 0.33 1.40 - - - 0.052011 2.15 1.20 -1.74 -1.11 -1.92 0.46 -0.64 -3.57 -2.93 2.39 1.34 0.71 -3.812010 - - - - - - - 0.75 2.68 1.60 1.09 2.54 8.96

Investment policyThe CS SICAV One (Lux) Small and Mid CapAlpha Long/ Short aims to generate absolutepositive returns by exploiting the inefficiencies ofthe small and mid-cap markets in Europe witha focus on Germanspeaking countries. Theportfolio managers buy the equities they thinkwill perform best, while at the same time sellingstocks in companies that, in their views, willunderperform the market. The objective is tocreate a portfolio that has lower volatility, lesscorrelation with the equity markets and a betterriskadjusted performance than a long-only fund.

Fund facts


Bloomberg ticker CSSMLSB LXNet Asset Value 104.86


Annualized volatility in % 8.66 -

Fund ExposuresTotal gross exposure 156.61Long exposure 99.49Short exposure -57.12Net exposure 42.37Number of long positions 85.00Number of short positions 28.00


236



Net Exposure Countries

-5% 0% 5% 10% 15% 20% 25% 30%

GermanyUnited Kingdom

AustriaDenmarkBelgiumNorway

SpainSwitzerland

GibraltarFrance

ItalyLuxembourg

SwedenNetherlands

Finland

25.96%

7.65%

3.20%

2.89%

1.77%

1.33%

1.04%

0.93%

0.85%

0.25%

-0.18%

-0.30%

-0.37%

-0.83%

-1.83%

Allocation by Country in %Long Short Net

Austria 3.20 0.00 3.20Belgium 1.77 0.00 1.77Denmark 2.89 0.00 2.89Finland 0.00 -1.83 -1.83France 1.90 -1.64 0.25Germany 68.79 -42.84 25.96Gibraltar 0.85 0.00 0.85Italy 0.29 -0.46 -0.18Luxembourg 0.00 -0.30 -0.30Netherlands 6.31 -7.14 -0.83Norway 0.00 1.33 1.33Spain 0.00 1.04 1.04Sweden 0.56 -0.93 -0.37Switzerland 2.05 -1.12 0.93United Kingdom 8.51 -0.86 7.65

Allocation by Sector in %Long Short Net

Consumer Discretionary 24.19 -11.32 12.87Consumer Staples 2.89 -3.49 -0.59Energy 1.58 0.00 1.58Financials 12.96 -9.71 3.25Health Care 9.48 -4.13 5.34Industrials 26.35 -21.16 5.19Information Technology 8.41 -1.68 6.73Materials 12.12 -4.95 7.17Telecommunication Services 1.51 -0.24 1.27Utilities 0.00 -0.45 -0.45

Net Exposure Sectors

-2% 0% 2% 4% 6% 8% 10% 12% 14% 16%

Consumer Discretionary

Materials

Information Technology

Health Care

Industrials

Financials

Energy

Telecommunication Services

Utilities

Consumer Staples

12.87%

7.17%

6.73%

5.34%

5.19%

3.25%

1.58%

1.27%

-0.45%

-0.59%

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Fund manager Felix MeierFund manager since 26/07/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 66.73Inception date 26/07/2010Management fee in % p.a. 2.00Performance fee in % with Highwatermark 20.00Unit Class Category R - hedged

(capital growth)



Credit Suisse SICAV One (Lux) Small and Mid Cap AlphaLong/ShortClass R CHF


2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

-4.7

-0.5

CS SICAV One (Lux) Small and Mid Cap Alpha Long/Short R CHF



1 month 3 months YTD 1 year 3 years 5 yearsFund 1.38 -0.07 -0.46 3.78 - -


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 3.97 3.58 -1.37 -0.56 -4.98 -0.75 -1.73 0.32 1.38 - - - -0.462011 2.19 1.16 -1.80 -1.14 -1.97 0.42 -0.92 -3.56 -3.14 2.20 1.24 0.77 -4.672010 - - - - - - - 0.73 2.72 1.65 0.91 2.39 8.68


Fund facts


Bloomberg ticker CSSMLRC LXNet Asset Value 103.13





238




-5% 0% 5% 10% 15% 20% 25% 30%



SpainSwitzerland

GibraltarFrance

ItalyLuxembourg

SwedenNetherlands

Finland

25.96%

7.65%

3.20%

2.89%

1.77%

1.33%

1.04%

0.93%

0.85%

0.25%

-0.18%

-0.30%

-0.37%

-0.83%

-1.83%






-2% 0% 2% 4% 6% 8% 10% 12% 14% 16%


Materials


Health Care

Industrials

Financials

Energy


Utilities

Consumer Staples

12.87%

7.17%

6.73%

5.34%

5.19%

3.25%

1.58%

1.27%

-0.45%

-0.59%

Cre

dit S

uiss

e S

ICA

V O

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239

Fund manager Felix MeierFund manager since 26/07/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 66.73Inception date 26/07/2010Management fee in % p.a. 2.00Performance fee in % with Highwatermark 20.00Unit Class Category R - hedged

(capital growth)



Credit Suisse SICAV One (Lux) Small and Mid Cap AlphaLong/ShortClass R USD


2010 2011 201290

95

100

105

110

115

-10%

-5%

0%

5%

10%

15%

-4.2

0.2

CS SICAV One (Lux) Small and Mid Cap Alpha Long/Short R USD







Fund facts


Bloomberg ticker CSSMLRU LXNet Asset Value 104.71





240




-5% 0% 5% 10% 15% 20% 25% 30%



SpainSwitzerland

GibraltarFrance

ItalyLuxembourg

SwedenNetherlands

Finland

25.96%

7.65%

3.20%

2.89%

1.77%

1.33%

1.04%

0.93%

0.85%

0.25%

-0.18%

-0.30%

-0.37%

-0.83%

-1.83%






-2% 0% 2% 4% 6% 8% 10% 12% 14% 16%


Materials


Health Care

Industrials

Financials

Energy


Utilities

Consumer Staples

12.87%

7.17%

6.73%

5.34%

5.19%

3.25%

1.58%

1.27%

-0.45%

-0.59%

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V O

ne



241

Fund manager Felix MeierFund manager since 26/07/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 31. MayTotal net assets (in millions) 66.73Inception date 26/07/2010Management fee in % p.a. 1.80Performance fee in % with Highwatermark 20.00Benchmark (BM)DJ CS Blue Chip Index Long/Short Equity (EUR-Hgd)





Credit Suisse SICAV One (Lux) Small and Mid Cap AlphaLong/ShortClass I


2010 2011 201295

100

105

110

115

-5%

0%

5%

10%

15%

-3.6

0.2

-3.4

7.0

CS SICAV One (Lux) Small and Mid Cap AlphaLong/Short I


DJ CS Blue Chip Index Long/Short Equity(EUR-Hgd)







Fund facts


Bloomberg ticker CSSMLSI LXNet Asset Value 1,052.54





242




-5% 0% 5% 10% 15% 20% 25% 30%



SpainSwitzerland

GibraltarFrance

ItalyLuxembourg

SwedenNetherlands

Finland

25.96%

7.65%

3.20%

2.89%

1.77%

1.33%

1.04%

0.93%

0.85%

0.25%

-0.18%

-0.30%

-0.37%

-0.83%

-1.83%






-2% 0% 2% 4% 6% 8% 10% 12% 14% 16%


Materials


Health Care

Industrials

Financials

Energy


Utilities

Consumer Staples

12.87%

7.17%

6.73%

5.34%

5.19%

3.25%

1.58%

1.27%

-0.45%

-0.59%

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243

Fund 185

Fund manager Michael SchmidFund manager since 31/08/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 128.69Inception date 30/09/2010Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.21Benchmark (BM)ML Global Broad Market Corp. 1-10Y (RI) (EUR-Hgd)

Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Fund I (Lux) Bond Global CorporatesClass B


2010 2011 20129698

100102104106108110112

-4%-2%0%2%4%6%8%

10%12%

2.3

7.9

3.6

8.0

CS Fund I (Lux) Bond Global Corporates B Yearly or year-to-date performance respectively (Fund)ML Global Broad Market Corp. 1-10Y (RI)(EUR-Hgd)




Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %

AAA 1.40AA+ 2.72AA 1.76AA- 4.83A (Bucket) 34.67BBB (Bucket) 37.80BB (Bucket) 12.76B (Bucket) 1.22Not rated 2.84


assetsBBVA 3.000 22/08/13 1.43Johnson 3.550 15/05/21 1.41Rio Tinto 4.125 20/05/21 1.39Prudential 4.500 16/11/21 1.37NY Life 4.375 19/01/17 1.34Luxottica 4.000 10/11/15 1.32Citigroup 4.000 26/11/15 1.31Toyota Motor 1.250 17/11/14 1.25Barclays Bank 8.250 15/12/49 1.05Wal-Mart Stores 3.625 08/07/20 1.05Total 12.92

Number of holdings




Annualized volatility in % 5.31 -Information ratio 0.39 -Tracking Error (Ex post) 2.17 -Maximum draw down in % 3) -2.78 -3) Maximum drawdown is the most negative cumulative returnover a given time period.

Investment policyThe fund provides access to a globally diversifiedportfolio of predominantly investment gradecorporate bonds. Investors have the possibilityto gain exposure to attractive corporate riskpremiums and return opportunities offered by alarge and growing universe of companies. Theportfolio may hold a small part of non-investmentgrade (high yield) bonds. Currency exposures aresystematically hedged. One of the key factors inthe fund´s success is its credit-intensive researchapproach to manage a large and growinguniverse of corporate bonds. As a result,investors benefit from a diversified portfolioacross sectors, regions and credit qualities. Ourprocess to evaluate credit profiles ensures thatthe portfolio focuses on high-quality companiesthat aspire to be leaders in their respectiveindustries.

Fund facts


Bloomberg ticker CCOBOBE LXNet Asset Value 108.14



Average = BBB-

244




Credit Suisse Fund I (Lux) Bond Global CorporatesClass B


Signals of weakness from the global economyhave become more frequent in Q3. WhileEurope`s southern periphery has been plungedinto severe recession, even the strongercountries are being dragged down by the weakercondition of the economy. Concerted efforts bythe ECB, the Fed and the BoJ to increaseliquidity helped marginally ease conditions, mainlyin the European credit markets. Over the quarter,credit spreads in Europe, as measured by theiTraxx Europe Main Index (5yrs), narrowed from166bps to 135bps, while in the US (CDX IG 5






In the US, the Fed’s resolve should help keepdebt funding costs low and support asset prices

as well as the confidence of consumers andbusinesses. The key worry remains how fiscalpolicy will evolve in early 2013. There is someevidence that corporations are holding back onspending due to the uncertainty over theso-called fiscal cliff.

Emerging markets central banks could also easemonetary policy to limit the negative impact ofcurrency strength. In Brazil, a public investmentprogram and privatization efforts, in combinationwith lower interest rates and a weaker currency,

should support continued improvement from asoft patch.

Our factor model has slightly changed and stillshows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution. In corporate bonds we still preferissuers with a good credit profile and recommendincreasing the diversification in the portfolio as alot of frequent issuers are still expensive.

Portfolio managementMichael Schmid, Director, is a senior portfolio manager and heads the Corporate Credit & European High Yield team. Prior to joining CreditSuisse in 1998, he worked for three years in PwC's assurance practice in Zurich. As a portfolio manager Michael first managed Europeanhigh yield bond portfolios and in 2005 switched to managing crossover- and investment grade credit portfolios in various currencies.Michael graduated from the University of Zurich (specialising in banking and finance) and is a Certified EFFAS Financial Analyst.

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Fund 185

Fund manager Michael SchmidFund manager since 31/08/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 128.69Inception date 30/09/2010Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.21Benchmark (BM)ML Global Broad Market Corp. 1-10Y (RI) (CHF-Hgd)

Swinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Global CorporatesClass R CHF


2010 2011 2012949698

100102104106108110

-6%-4%-2%0%2%4%6%8%

10%

0.3

7.3

2.4

7.7

CS Fund I (Lux) Bond Global Corporates R CHF Yearly or year-to-date performance respectively (Fund)ML Global Broad Market Corp. 1-10Y (RI)(CHF-Hgd)




Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %




Number of holdings






Fund facts


Bloomberg ticker CCOBOHS LXNet Asset Value 105.08



Average = BBB-

246




Credit Suisse Fund I (Lux) Bond Global CorporatesClass R CHF














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Fund 185

Fund manager Michael SchmidFund manager since 31/08/2010Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 128.69Inception date 30/09/2010Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.20Benchmark (BM)ML Global Broad Market Corp. 1-10Y (RI) (USD-Hgd)

Swinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Global CorporatesClass R USD


2010 2011 20129698

100102104106108110112

-4%-2%0%2%4%6%8%

10%12%

1.1

7.6

3.3

8.2

CS Fund I (Lux) Bond Global Corporates R USD Yearly or year-to-date performance respectively (Fund)ML Global Broad Market Corp. 1-10Y (RI)(USD-Hgd)




Maturities in years

0%

5%

10%

15%

20%

25%

30%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %




Number of holdings






Fund facts


Bloomberg ticker CCOBOHU LXNet Asset Value 106.25



Average = BBB-

248




Credit Suisse Fund I (Lux) Bond Global CorporatesClass R USD














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249

Fund manager Michael SchmidFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 36.91Inception date 29/10/2010Management fee in % p.a. 0.60TER (as per last Annual Report) in % 0.80Benchmark (BM) Citigroup EMU EUR 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 40


Credit Suisse Fund I (Lux) Floating Rate Strategy EURClass B


2010 2011 201298

99

100

101

102

103

104

-2%

-1%

0%

1%

2%

3%

4%

-0.5

2.8

1.20.6

CS Fund I (Lux) Floating Rate Strategy EURB


Citigroup EMU EUR 3M Euro Dep.Yearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%10%20%30%40%50%60%70%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %

AAA 1.62AA 20.97A 52.18BBB 25.09Cash/CashEquivalents 0.13


%Maturity as % of

assetsRabobank 0.797 14/01/13 5.16GE Cap. 0.475 22/02/16 5.03Lloyds TSB 1.977 18/01/13 4.37National AustraliaBk

0.928 22/10/13 4.09

CADES 08/11/12 4.06NYKREDIT 11/02/13 4.05Royal Bank ofScotland

0.918 21/10/12 3.26

Hewlett-Packard 17/12/12 3.25Swedbank 2.375 04/04/16 2.84Dexia Municipal 4.250 20/02/13 2.81Total 38.92




Gross portfolio yield in % 1.29Average remaining term to maturity in years 1.12Weighted Average Life 104Modified duration in years 0.33Weighted Average Maturity 397

Asset Allocation in %Floating-rate Notes (FRN) 78.66Commercial Paper 14.07Straight bonds 7.14Cash/Cash Equivalents 0.13Total 100.00

Investment policyThe fund seeks to provide reasonable absolutereturns with appropriate risk from a diversifiedinvestment grade portfolio by investing in floatingrate debt instruments as well as fixed rate debtinstruments swapped for floating rate returns.The fund may also invest up to a limited amountin fixed rate money market and fixed rateshort-term debt instruments. The portfolioconstruction is based on our rigorous andprudent investment and credit managementprocess with a long and successful track record.

Fund facts


Bloomberg ticker CLFRSBE LXNet Asset Value 102.26


Number of holdings


Average = A

250




Credit Suisse Fund I (Lux) Floating Rate Strategy EURClass B


Signals of weakness from the global economyhave become more frequent in Q3. WhileEurope's southern periphery has been plungedinto severe recession, even the strongercountries are being dragged down by the weakercondition of the economy. Concerted efforts bythe ECB, the Fed and the BoJ to increaseliquidity helped marginally ease conditions, mainlyin the European credit markets. Over the quarter,credit spreads in Europe, as measured by theiTraxx Europe Main Index (5yrs), narrowed from166bps to 135bps, while in the US (CDX IG5 yrs) they narrowed from 112bps to 100bps.

Euribor declined significantly from 65 to 22bps,while USD Libor moved from 46 to 36bps.









shows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution.

Although a further normalization of the curve isexpected, the absolute yield level and themarginal carry is still very low. In corporatebonds, we still prefer issuers with a good creditprofile and recommend increasing thediversification in the portfolio as a lot of frequentissuers are still expensive.


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Fund manager Michael SchmidFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 36.91Inception date 29/10/2010Management fee in % p.a. 0.25TER (as per last Annual Report) in % 0.46Benchmark (BM) Citigroup EMU EUR 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)


Min. Investment Amount 500,000Redemptions DailyEU taxation In scope - tax

Fund 40


Credit Suisse Fund I (Lux) Floating Rate Strategy EURClass IB


2010 2011 201299

100

101

102

103

104

-1%

0%

1%

2%

3%

4%

-0.2

3.1

1.2

0.6

CS Fund I (Lux) Floating Rate Strategy EURI


Citigroup EMU EUR 3M Euro Dep.Yearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%10%20%30%40%50%60%70%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %

AAA 1.62AA 20.97A 52.18BBB 25.09Cash/CashEquivalents 0.13


%Maturity as % of

assetsRabobank 0.797 14/01/13 5.16GE Cap. 0.475 22/02/16 5.03Lloyds TSB 1.977 18/01/13 4.37National AustraliaBk

0.928 22/10/13 4.09

CADES 08/11/12 4.06NYKREDIT 11/02/13 4.05Royal Bank ofScotland

0.918 21/10/12 3.26

Hewlett-Packard 17/12/12 3.25Swedbank 2.375 04/04/16 2.84Dexia Municipal 4.250 20/02/13 2.81Total 38.92




Gross portfolio yield in % 1.29Average remaining term to maturity in years 1.12Weighted Average Life 104Modified duration in years 0.33Weighted Average Maturity 397



Fund facts


Bloomberg ticker CLFRIBE LXNet Asset Value 102.83


Number of holdings


Average = A

252




Credit Suisse Fund I (Lux) Floating Rate Strategy EURClass IB












shows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution.

Although a further normalization of the curve isexpected, the absolute yield level and themarginal carry is still very low. In corporatebonds, we still prefer issuers with a good creditprofile and recommend increasing thediversification in the portfolio as a lot of frequentissuers are still expensive.


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253

Fund manager Michael SchmidFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 33.15Inception date 29/10/2010Management fee in % p.a. 0.40TER (as per last Annual Report) in % 0.63Benchmark (BM) Citigroup USD 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)



Fund 29


Credit Suisse Fund I (Lux) Floating Rate Strategy USDClass B


2010 2011 2012979899

100101102103104105

-3%-2%-1%0%1%2%3%4%5%

-2.5

3.8

0.3 0.3

CS Fund I (Lux) Floating Rate Strategy USDB


Citigroup USD 3M Euro Dep.Yearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%45%50%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %

AAA 5.20AA 11.46A 45.03BBB 27.26BB 2.98Cash/CashEquivalents 8.07


assetsABN AMRO 2.217 30/01/14 4.59Wach 2.215 01/05/13 4.57GECC 1.090 07/04/14 4.56Nordea Bank 1.355 14/01/14 4.56ING 1.808 09/06/14 4.54HSBC Finance 0.848 01/06/16 4.33Bank of America 0.715 14/10/16 4.31FRN CS NY 1.415 14/01/14 3.95Unicredit 1.755 14/01/13 3.62Goldmann Sachs 1.439 07/02/14 3.31Total 42.34




Gross portfolio yield in % 1.87Average remaining term to maturity in years 1.41Weighted Average Life 461Modified duration in years 0.09



Fund facts


Bloomberg ticker CLFRSBU LXNet Asset Value 101.04


Number of holdings


Average = A

254




Credit Suisse Fund I (Lux) Floating Rate Strategy USDClass B








In the US, the Fed’s resolve should help keepdebt funding costs low and support asset pricesas well as the confidence of consumers and

businesses. The key worry remains how fiscalpolicy will evolve in early 2013. There is someevidence that corporations are holding back onspending due to the uncertainty over theso-called fiscal cliff.


Our factor model has slightly changed and stillshows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution. Although a further normalization ofthe curve is expected, the absolute yield level andthe marginal carry is still very low. In corporatebonds, we still prefer issuers with a good creditprofile and recommend increasing thediversification in the portfolio as a lot of frequentissuers are still expensive.


Cre

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255

Fund manager Michael SchmidFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 33.15Inception date 29/10/2010Management fee in % p.a. 0.25TER (as per last Annual Report) in % 0.47Benchmark (BM) Citigroup USD 3M Euro Dep.Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)



Fund 29


Credit Suisse Fund I (Lux) Floating Rate Strategy USDClass I


2010 2011 2012979899

100101102103104105

-3%-2%-1%0%1%2%3%4%5%

-2.4

3.9

0.3 0.3

CS Fund I (Lux) Floating Rate Strategy USDI


Citigroup USD 3M Euro Dep.Yearly or year-to-date performance respectively(Benchmark)



Maturities in years

0%5%

10%15%20%25%30%35%40%45%50%

0-1 1-3 3-5 5-7 7-10 10-15 >15

Credit Ratings in %

AAA 5.20AA 11.46A 45.03BBB 27.26BB 2.98Cash/CashEquivalents 8.07


assetsABN AMRO 2.217 30/01/14 4.59Wach 2.215 01/05/13 4.57GECC 1.090 07/04/14 4.56Nordea Bank 1.355 14/01/14 4.56ING 1.808 09/06/14 4.54HSBC Finance 0.848 01/06/16 4.33Bank of America 0.715 14/10/16 4.31FRN CS NY 1.415 14/01/14 3.95Unicredit 1.755 14/01/13 3.62Goldmann Sachs 1.439 07/02/14 3.31Total 42.34




Gross portfolio yield in % 1.87Average remaining term to maturity in years 1.41Weighted Average Life 461Modified duration in years 0.09



Fund facts


Bloomberg ticker CLFRIBU LXNet Asset Value 101.30


Number of holdings


Average = A

256




Credit Suisse Fund I (Lux) Floating Rate Strategy USDClass I









businesses. The key worry remains how fiscalpolicy will evolve in early 2013. There is someevidence that corporations are holding back onspending due to the uncertainty over theso-called fiscal cliff.


Our factor model has slightly changed and stillshows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/returndistribution. Although a further normalization ofthe curve is expected, the absolute yield level andthe marginal carry is still very low. In corporatebonds, we still prefer issuers with a good creditprofile and recommend increasing thediversification in the portfolio as a lot of frequentissuers are still expensive.


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257

Fund 148

Fund manager Gonzalo BorjaFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 534.81Inception date 30/06/2005Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.43Benchmark (BM) JPM CEMBI CompositeSwinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)


Last distribution 20/07/2011Distribution value 5.00Min. Investment Amount 1,000Redemptions DailyEU taxation In scope - tax


Credit Suisse Fund I (Lux) Bond Emerging MarketsClass A & B


2007 2008 2009 2010 2011 201260

80

100

120

140

160

180

-40%

-20%

0%

20%

40%

60%

80%

-21.2

38.9

14.01.8

14.6

-16.2

41.7

13.13.5

13.4

CS Fund I (Lux) Bond Emerging Markets A Yearly or year-to-date performance respectively (Fund)JPM CEMBI Composite Yearly or year-to-date performance respectively (Benchmark)

Former Track Record of Credit Suisse (Gue) Emerging Markets Bond Fund (June 30, 2005 - May 03, 2012).



Sectors in %

Financials 23.30Sovereign 20.20Oil & Gas 17.40Consumer 8.20Real estate 6.70Utilities 6.50TMT 5.50Diversified 4.50Industrials 3.60Others 4.10

Countries in %

Russia 13.70Brazil 12.90China 7.95United ArabEmirates 7.89Mexico 6.76South Africa 5.48Venezuela 3.30Israel 2.53Tobago/Trinidad 2.43Others 37.10

Credit Ratings in %

AA 6.40A 4.50BBB 48.20BB 20.60B 15.80CCC 1.30Not rated 3.40


%Maturity as % of

assetsPetroTrin&Tobago

9.750 14/08/19 2.40

Cayman Isl. 5.950 24/11/19 2.30Dubai Govt Int'l 7.750 05/10/20 2.30Sinek Capital 7.700 03/08/15 2.30Telemar 5.500 23/10/20 2.30Voto-Votorantim 6.625 25/09/19 2.20Russia Eurobond 7.500 31/03/30 2.10Venezuela 12.750 23/08/22 2.00Bon UnitedMexican

6.750 06/02/24 1.80

Standard Bank 8.125 02/12/19 1.80Total 21.50



Number of holdings



Investment policyThe fund invests primarily in corporate bonds,and to a limited extent in U.S.dollar-denominated bonds issued by sovereignborrowers in developing nations. The fund aimsto deliver a return that over the entire economiccycle is higher than what could be obtained frombonds issued by borrowers in industrializednations. The large investment universeencompassing many different countries withhighly diverse risk profiles offers interestinginvestment opportunities and allows for a broaddiversification. While countries are evaluatedusing a top-down approach, individualinvestments are evaluated using a bottom-upanalysis. The fund is actively managed in termsof its investment approach. This share classprovides a hedge against currency risk versus thereference currency (USD).

Fund facts


Unit classcurrency

USD USD

LU0660296541Bloomberg ticker CLEMMAU

LXCLEMMBU LX

Net Asset Value 105.30 111.17---

Daily



Average = BB

258




Credit Suisse Fund I (Lux) Bond Emerging MarketsClass A & B


Q3 proved to be a very good quarter for riskassets in general and emerging market corporatebonds in particular. Credit spreads of the JPMCEMBI Index tightened by over 57bps to 352bpswhich is only 13bps above the lows of this year.The spread tightening coupled with stable yieldsin US Treasuries led to a strong performancein the reporting period. The JPM CEMBI Indexposted a positive return of 5.38% taking itsyear-to-date performance to 13.35%.

While economic figures in emerging economiesas well as the developed world continued to bemostly on the weak side, investors’ focus wasfirmly on decisions by global central banks. The

announcement by the ECB to introduce itsOutright Monetary Transactions (OMT) programremoved part of the tail risk, while the Fed’sintroduction of a further round of quantitativeeasing (QE3) with an unlimited time frame addedfurther support for risky assets. Thus, currentmarkets are mainly liquidity driven given recentcentral bank intervention as macroeconomicdevelopments take a backseat for now.

Companies have taken advantage of theseconditions with significant new issue activity afterthe summer break meeting strong investordemand. In fact, emerging market corporateissuance during September exceeded the

previous monthly record set in February of thisyear with close to USD 35bn issued. Anotherrecord was also broken when the emergingmarket corporates asset class surpassed theUSD 1trn threshold last month. The fundparticipated selectively in these new issues. Ingeneral, the fund reduced credit risk over theperiod taking profits selectively in lower ratedand less liquid bonds. As a result, allocation toinvestment grade corporates increased.Nevertheless, we continue to see value in creditspreads in this environment and as such remainan overweight position in BB and Single-Bnames versus benchmark.


We believe the decisive actions by global centralbanks coupled with a zero-interest rate policyby the Fed provides strong support for creditspreads as investors’ search for yield continues.As such, we feel comfortable to remainoverweight in lower rated credits versusbenchmark for now. Selectively, we will reducesome exposure in this category as the liquiditydriven environment usually provides opportunitiesto reduce less liquid bonds or bonds of weakercorporates at attractive levels. Overall durationis kept slightly lower than benchmark as central

bank intervention and current US macro figuresdoes not warrant an aggressive stance oninterest rate risk. Additionally, our overweight inhigh yield credits also provides some cushionagainst rising rates as these bonds are much lesssensitive to moves in US Treasuries.

From a sector perspective we continue to like oilrelated corporate bonds given current valuations.While weaker growth could put pressure on theoil price we believe ongoing quantitative easingand geopolitical tensions should keep any fall

in oil prices limited. Our tactical allocation tosovereign bonds provides us the necessaryliquidity when needed, a further diversificationrelative to the benchmark and access to duration.We remain cautions on financials which are ourlargest underweight versus benchmark. Thesector remains prone to any weakness ineconomic growth in emerging markets givensignificant loan growth in many countries inrecent years.

Portfolio managementGonzalo Borja joined Credit Suisse in 2012. He is a senior portfolio manager and responsible for Emerging Market products within the Fixed Income team.Prior to joining Credit Suisse Asset Management, Gonzalo Borja was a Senior Vice President at Clariden Leu where he was responsible for the managementof the Clariden Leu Bond Fund EUR, the Clariden Leu Corporate Bond Fund and the Clariden Leu European High Yield Bond Fund. Furthermore, he wasin charge of the Credit Investment Process within Fixed Income Asset Management. He joined Clariden Leu from the former Clariden Bank in 2000 as acredit analyst and portfolio manager for high yield and emerging markets. Prior to that, he completed an internship program at Banco Santander in EquityCapital Markets in Madrid and Baring Private Equity Partners in London. He graduated in Business Administration from the European Business School inMadrid.

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Fund 148

Fund manager Gonzalo BorjaFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 534.81Inception date 31/08/2011Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.43Benchmark (BM) No BenchmarkSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsClass R CHF


2009 2010 2011 2012100

110

120

130

140

150

160

0%

10%

20%

30%

40%

50%

60%

12.8

0.3

13.0

CS Fund I (Lux) Bond Emerging Markets R CHF Yearly or year-to-date performance respectively (Fund)




Sectors in %


Countries in %


Credit Ratings in %



%Maturity as % of


9.750 14/08/19 2.40


6.750 06/02/24 1.80



Annualized volatility in % 6.48 6.62Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 3) -2.52 -7.743) Maximum drawdown is the most negative cumulative returnover a given time period.

Number of holdings




Fund facts


Bloomberg ticker CLEBDHC LXNet Asset Value 109.28



Average = BB

260




Credit Suisse Fund I (Lux) Bond Emerging MarketsClass R CHF













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261

Fund 148

Fund manager Gonzalo BorjaFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 534.81Inception date 31/08/2011Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.43Benchmark (BM) No BenchmarkSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsClass R EUR


2009 2010 2011 2012100

110

120

130

140

150

160

0%

10%

20%

30%

40%

50%

60%

13.6

1.9

13.4

CS Fund I (Lux) Bond Emerging Markets R EUR Yearly or year-to-date performance respectively (Fund)




Sectors in %


Countries in %


Credit Ratings in %



%Maturity as % of


9.750 14/08/19 2.40


6.750 06/02/24 1.80



Annualized volatility in % 6.50 6.46Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 3) -2.42 -7.033) Maximum drawdown is the most negative cumulative returnover a given time period.

Number of holdings




Fund facts


Bloomberg ticker CLEBDHE LXNet Asset Value 110.42



Average = BB

262




Credit Suisse Fund I (Lux) Bond Emerging MarketsClass R EUR













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263

Fund 98

Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 215.97Inception date 28/02/2011Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.20Benchmark (BM) JPM CEMBI High GradeSwinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass B


2011 201295

100

105

110

115

120

-5%

0%

5%

10%

15%

20%

13.412.3

CS Fund I (Lux) Bond Emerging Markets InvestmentGrade B


JPM CEMBI High GradeYearly or year-to-date performance respectively(Benchmark)



Sectors in %

Financials 28.20Oil & Gas 26.90Utilities 10.10Diversified 9.10Consumer 5.90Metals & Steel 5.90TMT 4.70Sovereign 3.00Real estate 2.20Others 4.00

Countries in %

Brazil 20.36Russia 14.23United ArabEmirates 9.28China 8.29India 5.84South Africa 5.49Korea 5.04Mexico 4.31Hong Kong 2.75Others 24.40

Credit Ratings in % 3)

A+ 8.00A 3.30A- 6.20BBB+ 6.00BBB 22.40BBB- 48.80AA (Bucket) 5.20

3) Rating methodology to be considered Investment Grade (IG):in case of three official ratings, at least two IG; in case of twoofficial ratings, at least one IG


%Maturity as % of

assetsVoto-Votorantim 6.625 25/09/19 2.18Gold Fields 4.875 07/10/20 2.12Petr NTS 9.750 14/08/19 2.05Gaz Capital 9.250 23/04/19 1.99Korea 3.500 22/08/17 1.97OdebrechtOverseas

7.000 21/04/20 1.96

China Overs.Fin. 5.500 10/11/20 1.95Qgog 5.250 30/07/18 1.95DP World Sukuk 6.250 02/07/17 1.90Novatek 6.604 03/02/21 1.88Total 19.95



Number of holdings



Investment policyThe fund invests primarily in corporate bonds,and to a limited degree in U.S.dollar-denominated bonds issued by sovereignborrowers in developing nations. In general, theFund’s investments must have an investmentgrade rating of BBB-/Baa3. Additionally, thefund also has the ability to invest in companieswith a split rating. The fund aims to deliver areturn over the entire economic cycle that ishigher than what could be achieved with bondsissued by borrowers in industrialized nations. Thelarge investment universe encompassing manydifferent countries with highly diverse risk profilesoffers interesting investment opportunities andallows for a broad diversification. The fund isactively managed in terms of its investmentapproach. This share class provides a hedgeagainst currency risk versus the referencecurrency (USD).

Fund facts


Bloomberg ticker CLEMBBU LXNet Asset Value 115.29



Average = BBB-

264




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass B


Q3 proved to be a very good quarter for riskassets in general and emerging market corporatebonds in particular. Credit spreads of the JPMCEMBI High Grade Index tightened by over50bps to 279bps which is only 15bps above thelows of this year. The spread tightening coupledwith stable yields in US Treasuries led to a strongperformance in the reporting period. The indexposted a positive return of 5.06%, taking itsyear-to-date performance to 12.26%.

While economic figures in emerging economiesas well as the developed world continued to bemostly on the weak side, investors’ focus was

firmly on decisions by global central banks. Theannouncement by the ECB to introduce itsOutright Monetary Transactions (OMT) programremoved part of the tail risk, while the Fed’sintroduction of a further round of quantitativeeasing (QE3) with an unlimited time frame addedfurther support for risky assets. Thus, currentmarkets are mainly liquidity driven given recentcentral bank intervention as macroeconomicdevelopments take a backseat for now.

Companies have taken advantage of theseconditions with significant new issue activity afterthe summer break meeting strong investor

demand. The fund participated selectively inthese new issues. In general, the fund reducedcredit risk over the period taking profits in lowerrated and less liquid bonds. As a result, allocationto single A corporates in Asia increased.Nevertheless, we continue to see value in creditspreads in this environment and as such remainan overweight position in BBB names versusbenchmark. We kept the overall duration of thefund only marginally short versus benchmarkgiven central banks support to keep interest rateslow.


We believe the decisive actions by global centralbanks coupled with a zero-interest rate policyby the Fed provides strong support for creditspreads as investors’ search for yield continues.As such, we feel comfortable to remainoverweight in lower rated credits versusbenchmark for now. Selectively, we will reducesome exposure in this category as the liquiditydriven environment usually provides opportunitiesto reduce less liquid bonds or bonds of weaker

corporates at attractive levels. Overall durationis kept slightly lower than benchmark as centralbank intervention and current US macro figuresdoes not warrant an aggressive stance oninterest rate risk. Additionally, our overweight inlower rated credits also provides some cushionagainst rising rates as these bonds are much lesssensitive to moves in US Treasuries.

From a sector perspective we continue to like oil

related corporate bonds given current valuations.While weaker growth could put pressure on theoil price we believe ongoing quantitative easingand geopolitical tensions should keep any fallin oil prices limited. We remain cautions onfinancials which are our largest underweightversus benchmark. The sector remains prone toany weakness in economic growth in emergingmarkets given significant loan growth in manycountries in recent years.

Portfolio managementHe is a senior portfolio manager in Emerging Market products. Prior to joining Credit Suisse Asset Management, Andreas Fischer was a Vice President atClariden Leu, where he was responsible for hedging and overlay strategies as well as monitoring of the asset allocation. Furthermore he was co-managingthe Clariden Leu Core Plus Funds. Andreas Fischer started his career at Basellandschaftliche Kantonalbank, before taking up a position as a portfoliomanager at Bank Sarasin. Afterwards he worked in London from 2006 to 2011 in managing absolute return strategies including EM bonds as well as LCEM bonds at London & Capital Asset Management. He is a charter holder of the CFA institute and holds a degree as a MSc in Finance from BirkbeckUniversity, London.

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265

Fund 98

Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 215.97Inception date 28/02/2011Management fee in % p.a. 0.60TER (as per last Annual Report) in % 0.87Benchmark (BM) JPM CEMBI High GradeSwinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass I


2011 201295

100

105

110

115

120

-5%

0%

5%

10%

15%

20%

13.712.3

CS Fund I (Lux) Bond Emerging Markets InvestmentGrade I


JPM CEMBI High GradeYearly or year-to-date performance respectively(Benchmark)



Sectors in %


Countries in %






%Maturity as % of


7.000 21/04/20 1.96




Number of holdings




Fund facts


Bloomberg ticker CLEMIBU LXNet Asset Value 115.85



Average = BBB-

266




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass I













Cre

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267

Fund 98

Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 215.97Inception date 28/02/2011Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.20Benchmark (BM) No BenchmarkSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass R CHF


2011 201298

100102104106108110112114116

-2%0%2%4%6%8%

10%12%14%16%

12.6

CS Fund I (Lux) Bond Emerging Markets InvestmentGrade R CHF




Sectors in %


Countries in %






%Maturity as % of


7.000 21/04/20 1.96



Annualized volatility in % 5.06 -Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 4) -1.42 -4) Maximum drawdown is the most negative cumulative returnover a given time period.

Number of holdings




Fund facts


Bloomberg ticker CLEMBHC LXNet Asset Value 114.03



Average = BBB-

268




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass R CHF













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269

Fund 98

Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 215.97Inception date 28/02/2011Management fee in % p.a. 1.00TER (as per last Annual Report) in % 1.20Benchmark (BM) No BenchmarkSwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass R EUR


2011 201295

100

105

110

115

120

-5%

0%

5%

10%

15%

20%

12.9

CS Fund I (Lux) Bond Emerging Markets InvestmentGrade R EUR




Sectors in %


Countries in %






%Maturity as % of


7.000 21/04/20 1.96



Annualized volatility in % 5.07 -Information ratio - -Tracking Error (Ex post) - -Maximum draw down in % 4) -1.33 -4) Maximum drawdown is the most negative cumulative returnover a given time period.

Number of holdings




Fund facts


Bloomberg ticker CLEMBHE LXNet Asset Value 115.28



Average = BBB-

270




Credit Suisse Fund I (Lux) Bond Emerging MarketsInvestment GradeClass R EUR













Cre

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271

Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 25.53Inception date 30/10/2006Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.42Benchmark (BM) JPM ELMI+ CompositeUnit Class Category B

(capital growth)



Fund 45


Credit Suisse Fund I (Lux) Bond Emerging Markets LocalCurrenciesClass B


2007 2008 2009 2010 2011 201280

90

100

110

120

130

140

150

-20%

-10%

0%

10%

20%

30%

40%

50%

12.2

-11.1

12.15.8

-6.2

6.8

16.0

-3.8

11.75.7

-5.2

6.3

CS Fund I (Lux) Bond Emerging Markets LocalCurrencies B


JPM ELMI+ CompositeYearly or year-to-date performance respectively(Benchmark)

Former Track Record of Credit Suisse (Gue) Local Currencies EMMA Fund (October 31, 2006 - May 03, 2012).



Sectors in %Fund

Financials 37.10Sovereign 22.50Oil & Gas 12.50Diversified 8.90Supranational organisations 7.20Utilities 3.70TMT 3.20Metals & Steel 2.20Others 2.70

Currencies in %

HKD 11.19MXN 9.51SGD 7.28RUB 6.88CNY 6.75INR 6.72TRY 5.58PLN 5.42THB 5.09Others 35.60

Credit Ratings in %

AAA 14.20A+ 6.10A 20.20A- 10.70BBB+ 9.30BBB 11.10BBB- 21.00BB+ 4.20BB 3.20


Gross portfolio yield in % 3) 4.10Average remaining term to maturity in years 2.80Modified duration in years 1.033) Includes implied yield through FX forwards


assetsKFW 3.250 15/03/13 3.97Barclays Bank 0.755 17/10/12 3.92Banco Votorantim 2.750 02/12/13 3.43Mexico 8.000 19/12/13 3.23Bom Capital PLC 4.500 10/09/13 3.18Canada 2.375 10/09/14 3.06Icici Bank 6.625 03/10/12 3.03Asian Dev. Bank 1.625 15/07/13 2.98Warsaw 6.875 06/05/14 2.81A.Dhabi Nat. En. 4.375 28/10/13 2.69Total 32.30

Investment policyThe fund invests in emerging market currencies,non-deliverable forwards (NDFs) and mainlyinvestment grade rated short-term bonds ofsovereigns, quasi-sovereigns and corporateborrowers. Its investment objectives are togenerate currency gains versus the underlyingreference currency (U.S. dollar or euro), andproduce steady interest income, whilemaintaining a high level of diversification and ashort duration. To identify attractive investmentopportunities, the fund applies an approach thatcombines a top-down analysis with afundamental bottom-up security selection. Theportfolio is actively managed within a proven riskframework, ensuring all decisions are madewithin pre-defined risk parameters.Fund facts


Bloomberg ticker CSLLCBU LXNet Asset Value 100.17

Number of holdings




Average = BBB

272




Credit Suisse Fund I (Lux) Bond Emerging Markets LocalCurrenciesClass B


Q3 proved to be a very good quarter for riskassets in general which also benefited themajority of emerging market currencies versusthe USD. The index (unhedged in USD) posteda positive return of 2.13% in the reporting periodtaking year-to-date performance to 6.26%.

While economic figures in emerging economiesas well as the developed world continued to bemostly on the weak side, investors’ focus wasfirmly on decisions by global central banks. Theannouncement by the ECB to introduce its

Outright Monetary Transactions (OMT) programremoved part of the tail risk, while the Fed’sintroduction of a further round of quantitativeeasing (QE3) with an unlimited time frame addedfurther support for risky assets. Thus, currentmarkets are mainly liquidity driven given recentcentral bank intervention as macroeconomicdevelopments take a backseat for now.

The fund benefited from its positive stance onLatin American currencies, in particular itsoverweight in the Mexican peso. Its overweight

position in South African rand detracted fromperformance. The positive effect of the inclusioninto the Citigroup WGBI on October 1st wasovershadowed by a slowdown in economicindicators as well as negative headlines fromSouth Africa’s mining sector. The fund remaineda cautious stance on European relatedcurrencies such as the Hungarian forint andRomanian leu. The allocation to short termcorporate bonds contributed positively asspreads continued to tighten.


We believe the decisive actions by global centralbanks coupled with a zero-interest rate policy bythe Fed provide strong support for risky assets.Quantitative easing by the Fed should in general

also be positive for emerging market currenciesversus the USD. From a regional perspective,we continue to be cautious on our exposure tocurrencies which are closely tied to the eurozone.

Ultimately, we believe a weaker EUR is anecessary - although not sufficient condition - tosolve Europe`s problems.


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Fund manager Andreas FischerFund manager since 02/04/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 25.53Inception date 30/10/2006Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.42Benchmark (BM) No BenchmarkUnit Class Category B

(capital growth)



Fund 45


Credit Suisse Fund I (Lux) Bond Emerging Markets LocalCurrenciesClass B EUR


2007 2008 2009 2010 2011 20129095

100105110115120125130

-10%-5%0%5%

10%15%20%25%30%

2.0

-6.4

9.2

13.3

-3.0

7.7

CS Fund I (Lux) Bond Emerging Markets LocalCurrencies B EUR


Former Track Record of Credit Suisse (Gue) Local Currencies EMMA Fund (October 31, 2012 - May 03, 2012).


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.05 1.64 7.71 10.53 22.00 22.05

Sectors in %Fund

Financials 37.10Sovereign 22.50Oil & Gas 12.50Diversified 8.90Supranational organisations 7.20Utilities 3.70TMT 3.20Metals & Steel 2.20Others 2.70

Currencies in %

HKD 11.19MXN 9.51SGD 7.28RUB 6.88CNY 6.75INR 6.72TRY 5.58PLN 5.42THB 5.09Others 35.60

Credit Ratings in %

AAA 14.20A+ 6.10A 20.20A- 10.70BBB+ 9.30BBB 11.10BBB- 21.00BB+ 4.20BB 3.20


Gross portfolio yield in % 3) 4.10Average remaining term to maturity in years 2.80Modified duration in years 1.033) Includes implied yield through FX forwards


assetsKFW 3.250 15/03/13 3.97Barclays Bank 0.755 17/10/12 3.92Banco Votorantim 2.750 02/12/13 3.43Mexico 8.000 19/12/13 3.23Bom Capital PLC 4.500 10/09/13 3.18Canada 2.375 10/09/14 3.06Icici Bank 6.625 03/10/12 3.03Asian Dev. Bank 1.625 15/07/13 2.98Warsaw 6.875 06/05/14 2.81A.Dhabi Nat. En. 4.375 28/10/13 2.69Total 32.30

Investment policyThe fund invests in emerging market currencies,non-deliverable forwards (NDFs) and mainlyinvestment grade rated short-term bonds ofsovereigns, quasi-sovereigns and corporateborrowers. Its investment objectives are togenerate currency gains versus the underlyingreference currency (U.S. dollar or euro), andproduce steady interest income, whilemaintaining a high level of diversification and ashort duration. To identify attractive investmentopportunities, the fund applies an approach thatcombines a top-down analysis with afundamental bottom-up security selection. Theportfolio is actively managed within a proven riskframework, ensuring all decisions are madewithin pre-defined risk parameters.Fund facts


Bloomberg ticker CSLLCBE LXNet Asset Value 102.41

Number of holdings




Average = BBB

274




Credit Suisse Fund I (Lux) Bond Emerging Markets LocalCurrenciesClass B EUR


Q3 proved to be a very good quarter for riskassets in general which also benefited themajority of emerging market currencies versusthe USD. The index (unhedged in USD) posteda positive return of 2.13% in the reporting periodtaking year-to-date performance to 6.26%.

While economic figures in emerging economiesas well as the developed world continued to bemostly on the weak side, investors’ focus wasfirmly on decisions by global central banks. Theannouncement by the ECB to introduce its

Outright Monetary Transactions (OMT) programremoved part of the tail risk, while the Fed’sintroduction of a further round of quantitativeeasing (QE3) with an unlimited time frame addedfurther support for risky assets. Thus, currentmarkets are mainly liquidity driven given recentcentral bank intervention as macroeconomicdevelopments take a backseat for now.

The fund benefited from its positive stance onLatin American currencies, in particular itsoverweight in the Mexican peso. Its overweight

position in South African rand detracted fromperformance. The positive effect of the inclusioninto the Citigroup WGBI on October 1st wasovershadowed by a slowdown in economicindicators as well as negative headlines fromSouth Africa’s mining sector. The fund remaineda cautious stance on European relatedcurrencies such as the Hungarian forint andRomanian leu. The allocation to short termcorporate bonds contributed positively asspreads continued to tighten.


We believe the decisive actions by global centralbanks coupled with a zero-interest rate policy bythe Fed provide strong support for risky assets.Quantitative easing by the Fed should in general

also be positive for emerging market currenciesversus the USD. From a regional perspective,we continue to be cautious on our exposure tocurrencies which are closely tied to the eurozone.

Ultimately, we believe a weaker EUR is anecessary - although not sufficient condition - tosolve Europe`s problems.


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Fund manager Michael SchmidFund manager since 04/05/2012Location ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 35.03Inception date 04/05/2012Management fee in % p.a. 1.20TER (as per last Annual Report) in % 1.42Benchmark (BM)

ML Euro High Yield 3 % Constrained (RI)Swinging single pricing (SSP) 2) YesUnit Class Category A

(distribution)



Fund 90


Credit Suisse Fund I (Lux) Bond European High YieldClass A & B


2007 2008 2009 2010 2011 2012406080

100120140160180200

-60%-40%-20%

0%20%40%60%80%

100%

-38.5

62.3

12.0

-6.2

14.9

-33.5

76.4

14.7

-2.5

19.6

CS Fund I (Lux) Bond European High YieldA


ML Euro High Yield 3 % Constrained (RI)Yearly or year-to-date performance respectively(Benchmark)

Former Track record of Credit Suisse (Gue) European High Yield Bond Fund (09.02.2007 – 03.05.2012)



Credit Ratings in %

BBB- 1.70BB+ 4.53BB 19.34BB- 12.44B (Bucket) 47.76CCC (Bucket) 10.77CC 1.44C 1.02D 0.01Not rated 0.98


%Maturity as % of

assetsAgrokor 10.000 07/12/16 2.58Foodcorp. 8.750 01/03/18 2.46EC Finance 9.750 01/08/17 2.33UPC Holding 8.000 01/11/16 2.32ABN AMRO 4.310 10/03/49 2.24Aguila 7.875 31/01/18 2.03Nara Cab Funding 8.875 01/12/18 2.03Smurfit Kappa 7.750 15/11/19 1.96HeidelbergCement 9.500 15/12/18 1.79Barry Callebaut 5.375 15/06/21 1.70Total 21.44





Investment policyThe fund provides access to a broadly diversifiedEuropean non-investment grade (high-yield)bond portfolio. Investors may participate inattractive return opportunities of thesecompanies. A combination of credit-intensivecompany research and an active portfoliomanagement to achieve optimal diversificationbenefits are key factors determining the fund´ssuccess. Taking into account the cyclical natureof high-yield bonds, the investment processdirects the portfolio´s allocations based onsectors and ratings. The fund employs asystematic approach in evaluating companycredit profiles to ensure a portfolio that is focusedon corporate bonds with a favorable outlook forthe future.

Fund facts



Bloomberg ticker CSHYEAE LX CSHYEBE LXNet Asset Value 103.34 103.34

--

Daily


Number of holdings


Average = B-

276




Credit Suisse Fund I (Lux) Bond European High YieldClass A & B


Signals of weakness from the global economyhave become more frequent in Q3. WhileEurope`s southern periphery has been plungedinto severe recession, even the strongercountries are being dragged down by the weakercondition of the economy. Nevertheless,concerted efforts by the ECB, the Fed and theBoJ to increase liquidity helped ease theconditions, mainly in the European credit marketswhere we have been in a "risk on" environment inQ3 2012: credit spreads in Europe as measuredby the iTraxx Europe Main Index (5yrs) narrowed

from 166bps to 135bps and in the US (CDX IG5yrs) from 112bps to 100bps.

The BofA Merrill Lynch Euro High Yield Indexnarrowed from 820bps to 692bps and demandfor primary issuance in the high yield segmentonce the market re-opened in September washigh. So far this year, USD 280bn in high yieldbonds have been issued globally (USA: 209bn,EUR: 53bn, Other: 18bn).

The ECB announced potentially unlimited

purchases of short-dated government bonds andthus committed to act as a lender of last resortnot only for banks but also for sovereigns. TheFed announced that they would keep short-terminterest rates near zero for even longer, now untilmid-2015. Unlike in previous rounds of so-calledquantitative easing, the Fed has notpre-determined the amount of bonds it plans tobuy. The more aggressive monetary expansionled to slightly higher bond yields, though theseare partly offset by restrictive fiscal policy andshould not be seen as a big uptrend.




businesses. The key worry remains how fiscalpolicy will evolve in early 2013. There is someevidence that corporations are holding back onspending due to the uncertainty over theso-called fiscal cliff. Emerging markets centralbanks could also ease monetary policy to limit thenegative impact of currency strength.

Our factor model has slightly changed and stillshows a slightly bond-positive picture, influencedby slowing global economic growth and a lowinflation environment. The situation remainsevent driven with an asymmetric risk/return

distribution. The absolute low yield level favorshigh yield bonds as the high yield interestcomponent buffers against negative pricedevelopments. We anticipate performance toprincipally stem from the carry-trade until animprovement in the economy materializes.Defaults, while expected to rise somewhat,should remain low as corporate fundamentals arereasonably healthy and leverage moderate. Wecontinue to emphasize better-quality credits withminimal peripheral exposure and recommendincreasing the diversification in the portfolio.


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Fund manager Credit Suisse AGFund manager since since inceptionLocation ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. NovTotal net assets (in millions) 438.18Inception date 21/07/2010Management fee in % p.a. 1.50Subscription WeeklyRedemption WeeklyPerformance fee in % with Highwatermark 10.00Unit Class Category B

(capital growth)



Fund 20


Credit Suisse Solutions (Lux) Prima Multi-StrategyClass B EUR


2010 2011 201296

97

98

99

100

101

102

103

-4%

-3%

-2%

-1%

0%

1%

2%

3%

-2.8

1.6

CS Solutions (Lux) Prima Multi-Strategy B EUR Yearly or year-to-date performance respectively (Fund)


1 month 3 months YTD 1 year 3 years 5 yearsFund -0.24 0.61 1.64 1.16 - -


Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 0.61 1.66 0.40 -0.20 -1.20 -0.22 0.62 0.23 -0.24 - - - 1.642011 -0.09 0.70 -0.49 0.81 -0.61 -0.87 0.81 -1.92 -0.67 0.08 -0.44 -0.11 -2.802010 - - - - - - - 0.29 0.88 0.55 -0.61 0.70 -

Strategies in %

Long/Short Equity 31.78Event Driven 15.93Fixed Income Arbitrage 14.65Global Macro 10.92Convertible Arbitrage 7.61Managed Futures 6.53Equity Market Neutral 5.86Emerging Markets 2.91Cash/Cash Equivalents 3.80

Investment policyCredit Suisse Solutions (Lux) PrimaMulti-Strategy fund (CS Prima Multi-Strategy) isa UCITS III compliant multi-strategy fund offunds.The CS Prima Multi-Strategy fund allocatesassets across multiple strategies in the liquidUCITS compliant universe. It targets attractiverisk adjusted returns through active portfoliomanagement and may invest in variousalternative investment strategies including:Equities, Event Driven, Convertibles, Macro,Credit, Managed Futures, Fixed Income,Emerging Markets Equities and Rates. The fundis domiciled in Luxembourg and will bepassported most other European countries. Thefund is open to both institutional and retailinvestors and offers weekly liquidity.

Fund facts


Bloomberg ticker CSPMSBE LXNet Asset Value 100.59

Number of holdings

Top HoldingsFundlogic Alternatives 8.85Exane Archimedes Fd 5.84World Invest SICAV Abs. Ret. 5.83Exane Funds 5.73Jupiter Absolute Return 5.68Total 31.93


278



Fund manager Credit Suisse AGFund manager since since inceptionLocation ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. NovTotal net assets (in millions) 438.18Inception date 21/07/2010Management fee in % p.a. 1.50Subscription WeeklyRedemption WeeklyPerformance fee in % with Highwatermark 10.00Unit Class Category R - hedged

(capital growth)



Fund 20


Credit Suisse Solutions (Lux) Prima Multi-StrategyClass R CHF


2010 2011 20129596979899

100101102103

-5%-4%-3%-2%-1%0%1%2%3%

-4.3

1.2

CS Solutions (Lux) Prima Multi-Strategy R CHF Yearly or year-to-date performance respectively (Fund)




Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 0.56 1.60 0.36 -0.23 -1.24 -0.26 0.57 0.17 -0.27 - - - 1.242011 -0.13 0.60 -0.57 0.73 -0.77 -0.99 0.57 -2.21 -0.78 -0.05 -0.51 -0.23 -4.292010 - - - - - - - 0.21 0.89 0.72 -0.66 0.64 -

Strategies in %



Fund facts


Bloomberg ticker CSPMSRC LXNet Asset Value 98.65

Number of holdings



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279

Fund 81

Fund manager Brian PetersonFund manager since 19/03/2008Location New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 194.05Inception date 19/03/2008Management fee in % p.a. 1.00Subscription WeeklyRedemption WeeklySwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Solutions (Lux) Dow Jones Credit SuisseAllHedge IndexClass R EUR


2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%22.8

9.0

-10.3

7.6

CS Solutions (Lux) Dow Jones Credit Suisse AllHedgeIndex R EUR




Sectors in %

Event Driven 23.25Global Macro 21.28Long/ShortEquity 19.23Multi-Strategy 13.17Fixed IncomeArbitrage 7.24EmergingMarkets 6.19ManagedFutures 5.78Equity MarketNeutral 2.20ConvertibleArbitrage 1.51Dedicated ShortBias 0.16

These figures represent the sector weightings of the underlyingDow Jones Credit Suisse AllHedge Index. The Fund invests intothe index via a swap and, on an ancillary basis, certificates. Thefund may hold cash and liquid assets of up to 5%.



Benefits– One of the first hedge fund index tracker funds ina regulated UCITS structure– It provides cost efficient and broadly diversifiedexposure to the hedge fund market, with betterliquidity than hedge funds in general– The Index has delivered competitive risk adjustedreturns when compared to active portfolios– A broadly diversified tracker fund minimises therisks associated with investing in individualmanagers/strategies or multi strategy products– Transparency with regards to constituent fundsand selection criteria– No performance feeRisks– Because hedge funds often use derivatives,short-selling and leverage, individual hedge fundscan be highly volatile and expose investors to a highrisk of loss, including the loss of some or all of theinvestor´s investment– The fund invests in derivatives in order toreplicate the performance of the underlying index.Given the nature of derivatives and the costs thatmay be involved in their utilisation, their value maynot exactly track the level of the underlying index– Large net redemptions may result in a deferral ofredemption orders– For further information on risks please refer tothe sales prospectus

Number of holdings

Investment StyleThe Fund is managed passively and investsmainly in derivatives and, on an ancillary basis,certificates in order to replicate the performanceof the index as closely as possible; the Fundwill hold a cash position of up to 5% to handlecurrency hedging.

Investment policyThe aim of the fund is to provide investors witha return linked to the performance of theunderlying Dow Jones Credit Suisse AllHedgeIndex. The Dow Jones Credit Suisse AllHedgeIndex is a diversified investable hedge fund index.It includes the ten sector indices weightedaccording to the broad index weights of the DowJones Credit Suisse AllHedge Index, a widelyrecognized asset-weighted hedge fund index.

Fund facts


Bloomberg ticker CSALLRE LXNet Asset Value 87.92



280



Fund 81

Fund manager Brian PetersonFund manager since 19/03/2008Location New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 194.05Inception date 19/03/2008Management fee in % p.a. 1.00Subscription WeeklyRedemption WeeklyBenchmark (BM) DJ CS AllHedge Index (weekly)Swinging single pricing (SSP) 2) YesUnit Class Category B

(capital growth)




Credit Suisse Solutions (Lux) Dow Jones Credit SuisseAllHedge IndexClass B


2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%22.5

9.6

-10.3

7.412.4 11.9

-5.8

5.0

CS Solutions (Lux) Dow Jones Credit SuisseAllHedge Index B


DJ CS AllHedge Index (weekly)Yearly or year-to-date performance respectively(Benchmark)



Sectors in %






Number of holdings



Fund facts


Bloomberg ticker CSALLBU LXNet Asset Value 87.86



Cre

dit S

uiss

e S

olut

ions



281

Fund 81

Fund manager Brian PetersonFund manager since 19/03/2008Location New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 194.05Inception date 15/03/2010Management fee in % p.a. 0.33Subscription WeeklyRedemption WeeklyBenchmark (BM) DJ CS AllHedge Index (weekly)Swinging single pricing (SSP) 2) YesUnit Class Category I (capital

growth)


Min. Init. Investm. Amount (in mill.) 3EU taxation In scope - no tax


Credit Suisse Solutions (Lux) Dow Jones Credit SuisseAllHedge IndexClass I


2010 2011 201285

90

95

100

105

110

115

-15%

-10%

-5%

0%

5%

10%

15%

-9.7

8.0

-5.8

5.0

CS Solutions (Lux) Dow Jones Credit SuisseAllHedge Index I


DJ CS AllHedge Index (weekly)Yearly or year-to-date performance respectively(Benchmark)



Sectors in %






Number of holdings



Fund facts


Bloomberg ticker CSALLID LXNet Asset Value 1,019.72



282



Fund 81

Fund manager Brian PetersonFund manager since 19/03/2008Location New YorkFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 194.05Inception date 19/03/2008Management fee in % p.a. 1.00Subscription WeeklyRedemption WeeklySwinging single pricing (SSP) 2) YesUnit Class Category R - hedged

(capital growth)




Credit Suisse Solutions (Lux) Dow Jones Credit SuisseAllHedge IndexClass R CHF


2008 2009 2010 2011 201260

70

80

90

100

110

120

130

-40%

-30%

-20%

-10%

0%

10%

20%

30%21.7

8.7

-11.7

6.7

CS Solutions (Lux) Dow Jones Credit Suisse AllHedgeIndex R CHF




Sectors in %






Number of holdings



Fund facts


Bloomberg ticker CSALLRC LXNet Asset Value 84.19



Cre

dit S

uiss

e S

olut

ions



283

6.664.89

-6.32-0.69

0.06-3.17

-5.41-3.96

0.986.96

Purchases Sales- ENCANA- ROYAL PHILIPS ELECTRONICS- GENERAL ELECTRIC- SABMILLER

Fund manager iMACS Funds TeamFund manager since 01/03/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 179.30Inception date 30/09/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.07Benchmark (BM) MSCI AC World (NR)Unit Class Category B

(capital growth)




Credit Suisse Solutions (Lux) MegatrendsClass B


2010 2011 20127580859095

100105110115120

-25%-20%-15%-10%-5%0%5%

10%15%20%

-17.8

10.2

-7.3

12.9

CS Solutions (Lux) Megatrends B Yearly or year-to-date performance respectively (Fund)MSCI AC World (NR) Yearly or year-to-date performance respectively (Benchmark)




Industrials 16.80 10.14Health Care 14.42 9.53Financials 13.43 19.75Information Technology 12.20 12.89Consumer Staples 10.60 10.54Consumer Discretionary 7.21 10.38Energy 5.74 11.15Materials 3.51 7.47Cash/Cash Equivalents 0.98 -Others 15.11 8.15

Currencies in %

USD 48.56EUR 15.53SGD 7.20GBP 6.43JPY 6.39CHF 5.45HKD 4.05IDR 2.25THB 2.23Others 1.90

Countries in %

USA 29.87Germany 7.23Singapore 7.20United Kingdom 6.42Japan 6.32Switzerland 5.42Russia 3.64Netherlands 2.87Brazil 2.39Others 28.62


Investment policyThe fund's objective is to generate the highestpossible return in USD. The fund invests primarilyin global equities (approx. 60 stocks) and holds inaddition active and passive collective investmentvehicles. The investments are focusing on theCS Megatrends (Multipolar World,Demographics and Sustainability). A Megatrendrepresents a major and lasting alteration ofsociety, or a progressive change lasting severaldecades or centuries that often can be rootedin a major technological breakthrough, ageopolitical rebalancing or an environmental shiftsuch as change in climate.

Fund facts


Bloomberg ticker CSSMEBU LXNet Asset Value 96.57




284




Credit Suisse Solutions (Lux) MegatrendsClass B


Q3 continued to be overshadowed by the debtcrisis in Europe, although the statements by ECBPresident Mario Draghi that it would be on hand

to rescue the euro within the scope of itsmandate had a positive effect on the financialmarkets. The Multipolar World pillar profited most

from this, closely followed by Demographics.Only the result of Sustainability stayed slightlybehind the benchmark.





Cre

dit S

uiss

e S

olut

ions


285

6.664.89

-6.32-0.69

0.06-3.17

-5.41-3.96

0.986.96


Fund manager iMACS Funds TeamFund manager since 01/03/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 179.30Inception date 16/06/2011Management fee in % p.a. 0.70Total expense ratio (ex ante) in % 0.85Benchmark (BM) MSCI AC World (NR)Unit Class Category I (capital

growth)




Credit Suisse Solutions (Lux) MegatrendsClass I


2011 20127580859095

100105110115120

-25%-20%-15%-10%-5%0%5%

10%15%20%

11.2 12.9

CS Solutions (Lux) Megatrends I Yearly or year-to-date performance respectively (Fund)MSCI AC World (NR) Yearly or year-to-date performance respectively (Benchmark)




Industrials 16.80 10.14Health Care 14.42 9.53Financials 13.43 19.75Information Technology 12.20 12.89Consumer Staples 10.60 10.54Consumer Discretionary 7.21 10.38Energy 5.74 11.15Materials 3.51 7.47Cash/Cash Equivalents 0.98 -Others 15.11 8.15

Currencies in %


Countries in %




Fund facts


Bloomberg ticker CSSMTRI LXNet Asset Value 944.36




286




Credit Suisse Solutions (Lux) MegatrendsClass I









Cre

dit S

uiss

e S

olut

ions


287


Fund manager iMACS Funds TeamFund manager since 01/03/2012Location ZurichFund domicile LuxembourgFund currency USDClose of financial year 30. NovTotal net assets (in millions) 179.30Inception date 30/09/2010Management fee in % p.a. 1.92Total expense ratio (ex ante) in % 2.07Unit Class Category R - hedged

(capital growth)




Credit Suisse Solutions (Lux) MegatrendsClass R CHF


2010 2011 20127580859095

100105110115

-25%-20%-15%-10%-5%0%5%

10%15%

-19.8

9.1

CS Solutions (Lux) Megatrends R CHF Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund

Industrials 16.80Health Care 14.42Financials 13.43Information Technology 12.20Consumer Staples 10.60Consumer Discretionary 7.21Energy 5.74Materials 3.51Cash/Cash Equivalents 0.98Others 15.11

Currencies in %



Countries in %




Fund facts


Bloomberg ticker CSSMERS LXNet Asset Value 92.80




288




Credit Suisse Solutions (Lux) MegatrendsClass R CHF









Cre

dit S

uiss

e S

olut

ions


289



(capital growth)




Credit Suisse Solutions (Lux) MegatrendsClass R EUR


2010 2011 20127580859095

100105110115

-25%-20%-15%-10%-5%0%5%

10%15%

-19.3

9.5

CS Solutions (Lux) Megatrends R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund


Currencies in %



Countries in %




Fund facts


Bloomberg ticker CSSMERE LXNet Asset Value 93.78




290




Credit Suisse Solutions (Lux) MegatrendsClass R EUR









Cre

dit S

uiss

e S

olut

ions


291



(capital growth)




Credit Suisse Solutions (Lux) MegatrendsClass R GBP


2011 20127580859095

100105110115

-25%-20%-15%-10%-5%0%5%

10%15%

10.0

CS Solutions (Lux) Megatrends R GBP Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund


Currencies in %



Countries in %




Fund facts


Bloomberg ticker CSSMTRS LXNet Asset Value 87.78




292




Credit Suisse Solutions (Lux) MegatrendsClass R GBP









Cre

dit S

uiss

e S

olut

ions


293

Fund manager Credit Suisse AGFund manager since since inceptionLocation ZürichFund domicile LuxembourgFund currency EURClose of financial year 30. NovTotal net assets (in millions) 438.18Inception date 21/07/2010Management fee in % p.a. 1.00Subscription WeeklyRedemption WeeklyPerformance fee in % with Highwatermark 5.00Unit Class Category I (capital

growth)



Fund 20


Credit Suisse Solutions (Lux) Prima Multi-StrategyClass I EUR


2010 2011 201297

98

99

100

101

102

103

104

-3%

-2%

-1%

0%

1%

2%

3%

4%

-2.3

2.0

CS Solutions (Lux) Prima Multi-Strategy I EUR Yearly or year-to-date performance respectively (Fund)





Strategies in %



Fund facts


Bloomberg ticker CSPMSIE LXNet Asset Value 1,018.38

Number of holdings



294




(capital growth)



Fund 20


Credit Suisse Solutions (Lux) Prima Multi-StrategyClass R USD


2010 2011 201296

97

98

99

100

101

102

103

-4%

-3%

-2%

-1%

0%

1%

2%

3%

-3.4

1.7

CS Solutions (Lux) Prima Multi-Strategy R USD Yearly or year-to-date performance respectively (Fund)





Strategies in %



Fund facts


Bloomberg ticker CSPMSRU LXNet Asset Value 100.21

Number of holdings



Cre

dit S

uiss

e S

olut

ions



295


(capital growth)



Fund 20


Credit Suisse Solutions (Lux) Prima Multi-StrategyClass R GBP


2011 201296

97

98

99

100

101

102

103

-4%

-3%

-2%

-1%

0%

1%

2%

3%

1.7

CS Solutions (Lux) Prima Multi-Strategy R GBP Yearly or year-to-date performance respectively (Fund)




Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD2012 0.62 1.66 0.39 -0.17 -1.20 -0.20 0.61 0.23 -0.23 - - - 1.702011 - - - - - -0.93 0.69 -2.01 -0.65 0.06 -0.46 -0.09 -

Strategies in %



Fund facts


Bloomberg ticker CSPMSRS LXNet Asset Value 98.27

Number of holdings



296



Fund manager Anna VäänänenFund manager since 01/09/2011Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 156.66Inception date 20/08/2009Management fee in % p.a. 2.00TER (as per last Annual Report) in % 2.31Benchmark (BM) MSCI Russia 10-40 (NR)Unit Class Category B

(capital growth)



Fund 33


Credit Suisse SICAV (Lux) Equity RussiaClass B


2007 2008 2009 2010 2011 20120

50

100

150

200

250

-100%

-50%

0%

50%

100%

150%

36.4

-81.2

119.8

31.5

-31.8

11.7

44.0

-75.6

133.7

28.5

-24.3

11.8

CS SICAV (Lux) Equity Russia B Yearly or year-to-date performance respectively (Fund)MSCI Russia 10-40 (NR) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %Fund

Energy 32.90Financials 19.34Materials 17.27Industrials 8.78Consumer Staples 5.96Information Technology 5.05Consumer Discretionary 4.98Utilities 2.83Telecommunication Services 2.70Cash/Cash Equivalents 0.20



Countries in %

Russia 81.94Virgin Islands(UK) 3.05Cayman Islands 2.83Guernsey 2.60United Kingdom 2.58Cyprus 2.38USA 2.21Netherlands 1.99Others 0.42

Top 10 holdings in %Sberbank of Russia 8.14Lukoil 6.54Gazprom 6.24JSC MMC Norilsk 5.65VTB Capital 4.44Magnit 4.43Novatek 4.29Rosneft Oil Co. 3.90Severstal GDR 3.82Tatneft 3.52Total 50.97

Investment policyThe fund aims to achieve long-term capitalappreciation by investing primarily in equities ofissuers incorporated in Russia or conducting theirprincipal business activities within Russia. Itoffers broad diversification across sectors suchas energy, materials, telecommunications,consumer goods and banking. The investmentstrategy is based on fundamental analysis. Thefund targets investments in shares of attractivelyvalued companies expected to benefit fromgrowth in the Russian economy and globaldemand for natural resources.

Fund facts


Bloomberg ticker CLLRUSB LXNet Asset Value 133.87

Number of holdings


Cre

dit S

uiss

e S

ICA

V



297


Credit Suisse SICAV (Lux) Equity RussiaClass B


During Q3 the Russian equity market continuedto trade according to the global risk appetite.Due to central bank measures in the US and theEU, the market managed to gain back most ofthe losses of Q2. Furthermore, Brent increasedback to over USD100/barrel, supporting boththe energy and domestic companies.

Best performing sectors were the onesperforming worst in the previous quarter. Steelcompanies gained by 15%-20% and utilitieswere 10%-30% higer. Financials

underperformed while most domestic companiesshare prices were driven by company specificnewsflow.

The market absorbed over USD 5bn of newequity during the quarter. Private rail operatorGlobal Trans was able to do an oversubscribedplacement in July in very difficult marketconditions. In September, after the Federal OpenMarket Committee announced another round ofquantitative easing, the central bank decided togo ahead with the USD 5.4bn privatization of

Sberbank. This was followed by the electronicsretailer M-Video and the internet companyMail.ru announcing a placement. Both of thesecompanies had earlier announced significantextra dividends signalling the increasedwillingness of Russian companies to distributeexcess cash.

The MSCI Russia 10/40 gained 10.9% duringthe quarter marked by high volatility and lowliquidity.


Despite the global turbulence, the Russianeconomy continues to grow at 3%-4% perannum. The floating RUB has helped theeconomy and the budget to adjust to fluctuationsin the oil price. The Russian economy is currentlysignificantly less dependent on oil prices thanit was in the 2009 crisis, for example.Furthermore, both public (10% of GDP) andprivate debt are at low levels.

Economic growth is driven by consumption andinvestments. Consumption is fuelled by lowunemployment, government social spending andexpanding credit. Investments are driven by, forexample, capital expenditure by oil companies,expansion in modern retail and infrastructurespending. In the fund we have a significantoverweight in these domestic growth sectors.Many mid-sized companies in these sectors growby 20%-30% per annum, have stable margins

and reasonable valuations.

The Russian equity market valuation is verycheap. The market is valued at a 55% discountto other emerging markets. This discount has onaverage been 30%, it tends to widen in crisistimes. The 12 month forward P/E of the Russianequity market is 5.5x. If global risk appetitecontinues to improve we believe that the Russianequity market has significant upside potential.

Portfolio managementAnna Väänänen is an investment professional with 17 years of international track record. In 2011, she won both the Lipper award and the Morningstaraward for the Best Fund Investing in Russia and the Best Russia Equity Fund Manager over a three year period.From 2007 until May 2011, she worked at FIM, a specialized boutique asset manager, in Helsinki. She was responsible for the management of two Russiafunds. The total size of the two funds was EUR 400 million. She played a crucial role in restoring the fund's performance after the 2008 financial crises.During her stay at FIM, she gained very good knowledge of and strong relationships with Russian Large Cap as well as Mid and Small Cap Companies andtheir management.Prior to moving to FIM, Anna Väänänen worked as a fund manager for the Finnish insurance company Tapiola. She started her career as an equity analyst,which built the foundation for her strong analytical background and enhanced her understanding for different industry sectors. During her six years as anequity analyst for the Scandinavian investment bank Carnegie, she analyzed various sectors, including IT-services, food, industrials, metals and mining.Several times she was voted as the top analyst covering the respective sector. Before Carnegie she worked as an equity analyst at Salomon Brothers inLondon. She was a member of the Extel number one voted Paper and Packaging team, responsible for the UK listed companies coverage. After graduationfrom University, Anna Väänänen participated in the Kleinwort Benson graduate Training Program in London.Anna Väänänen has strong relationships with partners in Moscow, London, Stockholm and Helsinki. She holds a Master of Economics from University ofHelsinki and speaks English, Finnish, French, Russian and Swedish.


298

Fund manager Anna VäänänenFund manager since 01/09/2011Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 156.66Inception date 30/09/2009Management fee in % p.a. 2.00TER (as per last Annual Report) in % 2.31Benchmark (BM) MSCI Russia 10-40 (NR)Unit Class Category B

(capital growth)



Fund 33


Credit Suisse SICAV (Lux) Equity RussiaClass B RUB

Net performance in RUB (rebased to 100) and yearly performance 1)

2009 2010 2011 20125075

100125150175200225250

-50%-25%

0%25%50%75%

100%125%150%

32.6

-28.4

8.5

29.4

-20.4

8.6

CS SICAV (Lux) Equity Russia B RUB Yearly or year-to-date performance respectively (Fund)MSCI Russia 10-40 (NR) Yearly or year-to-date performance respectively (Benchmark)

Net performance in RUB 1)


Sectors in %Fund



Annualized volatility in % 22.60 21.80Tracking Error (Ex post) 7.12 6.12Beta - -

Countries in %




Fund facts

Unit class currency RUB

Bloomberg ticker CLLRURB LXNet Asset Value 1,199.06

Number of holdings


Cre

dit S

uiss

e S

ICA

V



299


Credit Suisse SICAV (Lux) Equity RussiaClass B RUB















300

Fund manager Anna VäänänenFund manager since 01/09/2011Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 156.66Inception date 31/08/2009Management fee in % p.a. 2.00TER (as per last Annual Report) in % 2.31Unit Class Category R - hedged

(capital growth)



Fund 33


Credit Suisse SICAV (Lux) Equity RussiaClass R EUR


2009 2010 2011 201260

80

100

120

140

160

180

-40%

-20%

0%

20%

40%

60%

80%

29.4

-32.6

10.3

CS SICAV (Lux) Equity Russia R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %Fund



Annualized volatility in % 39.09 31.93Tracking Error (Ex post) - -Beta - -

Countries in %



Investment policyThe fund aims to achieve long-term capitalappreciation by investing primarily in equities ofissuers incorporated in Russia or conducting theirprincipal business activities within Russia. Itoffers broad diversification across sectors suchas energy, materials, telecommunications,consumer goods and banking. The investmentstrategy is based on fundamental analysis. TThefund targets investments in shares of attractivelyvalued companies expected to benefit fromgrowth in the Russian economy and globaldemand for natural resources.This share classprovides a hedge against currency risk versus thereference currency (USD).

Fund facts


Bloomberg ticker CLLRUIH LXNet Asset Value 119.56

Number of holdings


Cre

dit S

uiss

e S

ICA

V



301


Credit Suisse SICAV (Lux) Equity RussiaClass R EUR















302

Fund manager Anna VäänänenFund manager since 01/09/2011Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 156.66Inception date 20/08/2009Management fee in % p.a. 1.10TER (as per last Annual Report) in % 1.39Benchmark (BM) MSCI Russia 10-40 (NR)Unit Class Category I (capital

growth)


Minimum initial investment (units) 500,000Redemptions DailyEU taxation In scope - tax

Fund 33


Credit Suisse SICAV (Lux) Equity RussiaClass I


2007 2008 2009 2010 2011 20120

50

100

150

200

250

-100%

-50%

0%

50%

100%

150%

37.1

-80.8

123.0

33.0

-31.0

12.6

44.0

-75.6

133.7

28.5

-24.3

11.8

CS SICAV (Lux) Equity Russia I Yearly or year-to-date performance respectively (Fund)MSCI Russia 10-40 (NR) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %Fund




Countries in %




Fund facts


Bloomberg ticker CLLRUIB LXNet Asset Value 138.80

Number of holdings


Cre

dit S

uiss

e S

ICA

V



303


Credit Suisse SICAV (Lux) Equity RussiaClass I















304

Fund manager Isis Ma, Juan Manuel MendozaFund manager since 01/10/2011, 01/10/2011Location Singapore, SingaporeFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 37.53Inception date 31/10/2008Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.46Benchmark (BM) MSCI AC Far East ex Japan (NR)Unit Class Category B

(capital growth)



Fund 50


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass B


2008 2009 2010 2011 2012255075

100125150175200225

-75%-50%-25%

0%25%50%75%

100%125%

80.4

11.7

-28.0

10.2

68.9

19.4

-14.8

14.9

CS SICAV (Lux) Equity Asia Consumer B Yearly or year-to-date performance respectively (Fund)MSCI AC Far East ex Japan (NR) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %

ConsumerDiscretionary 37.13Consumer Staples 18.21InformationTechnology 14.32TelecommunicationServices 9.82Financials 8.27Energy 3.25Materials 2.77Industrials 1.30Cash/CashEquivalents 3.82Others 1.12

Currencies in %

HKD 60.41USD 18.37IDR 5.53EUR 4.34THB 3.69TRY 3.33SGD 3.27MYR 0.82CHF 0.24



Countries in %

China 31.55Hong Kong 22.52South Korea 6.64Indonesia 5.53Italy 4.53France 4.35Thailand 3.69Taiwan 3.34Turkey 3.33Others 14.52

Top 10 holdings in %Prada 4.57Dorsett Hospitality International 4.12Sands China Ltd. 3.98Samsung Electronics 3.85Taiwan Semicon 3.37Cnooc LTD 3.28Hengan Intl. Group 3.02Zijin Mining Grp. 2.80Tencent Hldg Ltd 2.72Galaxy Entertainment Group 2.68Total 34.39

Investment policyThe fund is a focused portfolio that aims tomaximize capital growth. It invests in companiesbenefiting from the increasing economicimportance of the Gulf States, Central Asia,South Asia and China. The relative immaturity ofthe capital markets in these regions generatesattractive investment opportunities that the fundmanager identifies through a proven, bottom-upstock selection process. In addition,macroeconomic factors are analyzed to definea top-down view and relative weights for eachregion. The result is a dynamic regional allocationand a high conviction portfolio with investmentsin 5 to 8 of the most promising ideas per region.This share class provides a hedge againstcurrency risk versus the reference currency(USD).

Fund facts


Bloomberg ticker CLSILBU LXNet Asset Value 163.04

Number of holdings


Cre

dit S

uiss

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ICA

V



305


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass B


During Q3, Asian technology companies havebeen benefiting from the launch of new techitems. Smart phone sales were very solid.Samsung Electronics, with the debut of theGalaxy S III and the Note, was estimated to haveshipped 57 million smartphones in the quarterand has posted a record high operating profitgrowth of 91% y-o-y. We reiterate our positiveoutlook on the technology sector, especiallygiven the low penetration of smartphones. Forexample, China and Indonesia both have asmartphone penetration of below 10%.

With the roll out of all ranges of smartphone

models from low cost to high end, we see hugegrowth potential in smartphone producers,telecommunication operators and some internetnames. WeChat (or “weixin”), for example, themobile application launched by Tencent, hasregistered its second 100m users in the 6months to this September. There remainsexponential potential to monetize this trafficthrough data usage, online gaming and internetapplication. The fund continued to accumulatequality names in technology, internet andtelecom sectors during weakness.

During the reporting period, best performance

contributors were: Dorsett Hospitality Group,which continued to expand its hotel portfoliowithout compromising profitability, and SandsChina, which has newly opened another casinoproperty in September in Cotai Macau focusingon the mass market. Performance detractorswere two staples names, Hengan and Vinda.Both are tissue paper and baby diapersproducers in China. Concerns of a possible pricewar triggered by low quality and small scalemanufacturers dragged down the stock prices.We stay positive on both names given theirstrong brand recognition and well establisheddistribution channels.


China’s Golden Week holiday in the first weekof October has shown good consumptionmomentum and is a good start to Q4. Retailsales and catering spending in Mainland Chinahas increased by 15% according to the Ministryof Commerce. Consumer electronics andcosmetics continue to achieve healthy doubledigit sales growth in Hong Kong retail sales.

Macau’s gaming revenue also came in with apositive surprise in September with 12% growth,picking up after two months of low single digitgrowth in the summer.

Looking across the ASEAN region, consumersentiments remain optimistic and have beenwitnessed by the upward retail sales trend. For

example, Indonesia’s domestic car salesincreased by 33% in September. We expect ourinvestments in ASEAN countries such as in theThai convenient stores group CPALL to haverobust earnings growth. We believe the currentvaluation of some of the sector names such as inthe Chinese consumer discretionary sector offergood upside potential for the fund.

Portfolio managementIsis Ma joined Credit Suisse (formerly Clariden Leu) in June 2010. Isis is an equity specialist in the consumer, real estate and financials sectors. Sincejoining Credit Suisse, Isis has been the co-manager of the Credit Suisse SICAV (Lux) Silk Road Equity Fund and the deputy manager of the Credit SuisseSICAV (Lux) Equity Luxury Goods Fund. Prior to that, Isis worked in the investment banking division at Macquarie International Capital Markets in HongKong, as well as in the Capital Markets division at Jones Lang LaSalle MENA in Dubai.Isis graduated from the Chinese University of Hong Kong with a major in accountancy. She is a Chartered Accountant.

Juan Manuel Mendoza started his career in 1997 as an equity broker, in the Institutional Equity Division of Salomon Smith Barney, Zurich and New York.Thereafter, he worked at Bank Julius Bar in Zurich. During 2006, he joined Credit Suisse (formerly Clariden Leu) and has been the fund manager of theCredit Suisse SICAV (Lux) Equity Luxury Goods Fund from 2008 onwards. He had won three Lipper Fund Awards in France, Germany and Austria in 2011.Since 2011, Juan has been the co-manager of the Credit Suisse SICAV (Lux) Silk Road Equity Fund.Juan holds an MBA in Corporate Finance from the Goizeta Business School at Emory University in Atlanta, USA.


306

Fund manager Isis Ma, Juan Manuel MendozaFund manager since 01/10/2011, 01/10/2011Location Singapore, SingaporeFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 37.53Inception date 31/10/2008Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.46Unit Class Category R - hedged

(capital growth)



Fund 50


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass R EUR


2008 2009 2010 2011 20126080

100120140160180200220

-40%-20%

0%20%40%60%80%

100%120%

82.6

10.1

-28.9

9.4

CS SICAV (Lux) Equity Asia Consumer R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %


Currencies in %





Countries in %




Fund facts


Bloomberg ticker CLSILHE LXNet Asset Value 156.48

Number of holdings


Cre

dit S

uiss

e S

ICA

V



307


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass R EUR















308

Fund manager Isis Ma, Juan Manuel MendozaFund manager since 01/10/2011, 01/10/2011Location Singapore, SingaporeFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 37.53Inception date 31/10/2008Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.46Unit Class Category R - hedged

(capital growth)



Fund 50


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass R CHF


2008 2009 2010 2011 20126080

100120140160180200220

-40%-20%

0%20%40%60%80%

100%120%

78.0

9.7

-28.5

9.1

CS SICAV (Lux) Equity Asia Consumer R CHF Yearly or year-to-date performance respectively (Fund)



Sectors in %


Currencies in %





Countries in %




Fund facts


Bloomberg ticker CLSILHC LXNet Asset Value 150.71

Number of holdings


Cre

dit S

uiss

e S

ICA

V



309


Credit Suisse SICAV (Lux) Equity Asia ConsumerClass R CHF















310

Fund manager Juan Manuel MendozaFund manager since 01/01/2009Location SingaporeFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 114.74Inception date 02/09/2010Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.24Benchmark (BM) MSCI World (NR)Unit Class Category B

(capital growth)



Fund 36


Credit Suisse SICAV (Lux) Equity Luxury GoodsClass B USD


2010 2011 201290

100

110

120

130

140

-10%

0%

10%

20%

30%

40%

-4.4

12.7

-5.5

13.0

CS SICAV (Lux) Equity Luxury Goods BUSD



USD share class of Clariden Leu (Lux) Luxury Goods Equity Fund was launched on September 2, 2010. Please note that Clariden Leu AG was integrated intoCredit Suisse AG on April 2, 2012.


1 month 3 months YTD 1 year 3 years 5 yearsFund -1.09 4.48 12.69 18.28 - -Benchmark 2.75 6.71 13.01 21.59 - -

Sectors in %

Textiles, Apparel& Luxury goods 63.05Watch andjewelleryindustry 10.95Cosmetics 7.81Leisure andTourism 7.40Beverages andtobacco 3.04Automobiles 3.03Others 4.71

Currencies in %

EUR 38.97HKD 29.12USD 18.72CHF 6.36GBP 6.01KRW 0.72SGD 0.10



Countries in %

France 22.32Italy 21.69Hong Kong 18.45USA 17.68Switzerland 5.98United Kingdom 5.93Germany 3.03South Korea 0.72Singapore 0.10Others 4.09

Top 10 holdings in %Prada 8.10Hermes 7.20Christian Dior 5.92Michael Kors 5.80Salvatore Ferragamo 5.68Estee Lauder 5.01Richemont 4.64LVMH 4.08Chow Tai Fook Jewel 4.05Tod's Group 4.03Total 54.51

Investment policyThis thematic equity fund invests globally inleading luxury goods companies operating inproduct categories such as luxury handbags,leather goods, fashion, jewelry, watches,cosmetics or yachts. The fund offers access tothemes including the rise of the Chinese luxurymarket, and the overall growth potential of theemerging consumer, as well as exposure toemerging brands in the luxury goods industry.The objective is to maximize total return fromcapital appreciation and dividends over extendedperiods of time. It follows an unconstrained,non-benchmark oriented approach to identifyattractively valued companies positioned tobenefit from the luxury goods theme.

Fund facts


Bloomberg ticker CLLGEBD LXNet Asset Value 133.96

Number of holdings


Cre

dit S

uiss

e S

ICA

V



311


Credit Suisse SICAV (Lux) Equity Luxury GoodsClass B USD


Economic newsflow from Europe during thissummer has not been affecting global luxurysales too much so far. The industry still seemsto be a net winner thanks to the weak euro.We saw an acceleration of tourist arrivals duringthe summer months from Asia and Brazil intoEurope. Tourists are continuing to takeadvantage of the large price gap between aluxury goods item in Beijing compared to Milanor Paris. Most brands estimate that at least onethird of their European revenues are coming fromsales to tourists.

Most of our portfolio holdings continued to havegood sales momentum during the summer.Richemont (Cartier, Piaget, Panerai, IWC, Chloéetc) for example reported a 23% sales growth,with organic growth of 13% in the last fivemonths through August. Bearing in mind thatthe Richemont group has 17 luxury brands inthe soft and hard luxury space, we see it as abetter proxy to the sector’s sales momentum.Other soft luxury names, such as Hermes, alsoreported strong sales momentum in September.

In Q3, best performance contributors were:

Michael Kors, which reported same stores salesgrowth of 45% in the US; Prada, whichcontinued to report industry best in class samestore sales growth of 19% globally; and SandsChina, which has newly opened another casinoproperty in September in Cotai Macau focusingon the mass market.Performance detractors were two UK luxurynames – Burberry and Mulberry. Burberryreported disappointing performance in the lastquarter. Burberry’s management has said theywill introduce mini collections more often andrevitalize sales momentum into Christmas.


China’s Golden Week holiday in the first weekof October has shown good consumptionmomentum and is a good start to Q4. Retailsales and catering spending in Mainland Chinahas increased by 15% according to Ministry ofCommerce. Consumer cosmetics continue toachieve healthy double digit sales growth inHong Kong retail sales. Macau’s gamingrevenue also came in with a positive surprise inSeptember with 12% growth, picking up aftertwo months of low single digit growth in thesummer.

We expect global luxury sales to grow at around11% this year. The luxury brands will probablygrow organically by 5%and grow around 6% withnew additional store space (net new storeopenings). In terms of market growth, we expectthe Chinese luxury market to grow at 3 to 4 timesChinese GDP growth. Historically, the Chineseluxury market has grown with a 28% compoundannual growth rate in the last 10 years.

We continue to have large exposure to soft luxurynames like Prada, Tod’s, Burnello Cucinelli,Hermes, Christian Dior and Michael Kors and

expect these names to deliver double digit salesgrowth into the Christmas and the Chinese NewYear quarter. All of these brands have strongexposure to high margin luxury categories suchas handbags, leather goods and smallaccessories and little exposure to apparel, whichis a more cyclical product category. The Italiansoft luxury companies in particular currently scorevery well on all metrics and are relativelyunderpenetrated in the emerging markets. Wehave large investments in Prada and Tod’s.

Portfolio managementJuan Manuel Mendoza started his career in 1997 as an equity broker, in the Institutional Equity Division of Salomon Smith Barney, Zurich and New York.Thereafter, he worked at Bank Julius Bar in Zurich. During 2006, he joined Credit Suisse (formerly Clariden Leu) and has been the fund manager of theCredit Suisse SICAV (Lux) Equity Luxury Goods Fund from 2008 onwards. He had won three Lipper Fund Awards in France, Germany and Austria in 2011.Since 2011, Juan has been the co-manager of the Credit Suisse SICAV (Lux) Silk Road Equity Fund.Juan holds an MBA in Corporate Finance from the Goizeta Business School at Emory University in Atlanta, USA.


312

Fund manager Juan Manuel MendozaFund manager since 01/01/2009Location SingaporeFund domicile LuxembourgFund currency EURClose of financial year 30. SepTotal net assets (in millions) 114.74Inception date 20/08/2009Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.24Benchmark (BM) MSCI World (NR)Unit Class Category B

(capital growth)



Fund 36


Credit Suisse SICAV (Lux) Equity Luxury GoodsClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

-60%

-40%

-20%

0%

20%

40%

60%

-5.3

-44.8

43.049.1

-1.2

13.7

-1.7

-37.6

25.919.5

-2.4

14.0

CS SICAV (Lux) Equity Luxury Goods BEUR



Former Track Record of Clariden Leu (Gue) Luxury Goods Equity Fund (25.08.2000–20.08.2009). The fund was formerly known as Clariden Leu (Lux) LuxuryGoods Equity Fund (21.08.2009–01.04.2012) prior to the integration of Clariden Leu AG into Credit Suisse AG that took place on April 2, 2012.


1 month 3 months YTD 1 year 3 years 5 yearsFund -3.10 3.04 13.75 23.38 82.94 20.12Benchmark 0.67 5.25 14.03 26.81 41.07 -0.82

Sectors in %

Textiles, Apparel& Luxury goods 63.05Watch andjewelleryindustry 10.95Cosmetics 7.81Leisure andTourism 7.40Beverages andtobacco 3.04Automobiles 3.03Others 4.71

Currencies in %

EUR 38.97HKD 29.12USD 18.72CHF 6.36GBP 6.01KRW 0.72SGD 0.10


Annualised volatility in % 19.78 23.76Tracking Error (Ex post) - -Beta - -

Countries in %

France 22.32Italy 21.69Hong Kong 18.45USA 17.68Switzerland 5.98United Kingdom 5.93Germany 3.03South Korea 0.72Singapore 0.10Others 4.09

Top 10 holdings in %Prada 8.10Hermes 7.20Christian Dior 5.92Michael Kors 5.80Salvatore Ferragamo 5.68Estee Lauder 5.01Richemont 4.64LVMH 4.08Chow Tai Fook Jewel 4.05Tod's Group 4.03Total 54.51

Investment policyThis thematic equity fund invests globally inleading luxury goods companies operating inproduct categories such as luxury handbags,leather goods, fashion, jewelry, watches,cosmetics or yachts. The fund offers access tothemes including the rise of the Chinese luxurymarket, and the overall growth potential of theemerging consumer, as well as exposure toemerging brands in the luxury goods industry.The objective is to maximize total return fromcapital appreciation and dividends over extendedperiods of time. It follows an unconstrained,non-benchmark oriented approach to identifyattractively valued companies positioned tobenefit from the luxury goods theme.

Fund facts


Bloomberg ticker CLLLGEB LXNet Asset Value 195.49

Number of holdings


Cre

dit S

uiss

e S

ICA

V



313


Credit Suisse SICAV (Lux) Equity Luxury GoodsClass B


Economic newsflow from Europe during thissummer has not been affecting global luxurysales too much so far. The industry still seemsto be a net winner thanks to the weak euro.We saw an acceleration of tourist arrivals duringthe summer months from Asia and Brazil intoEurope. Tourists are continuing to takeadvantage of the large price gap between aluxury goods item in Beijing compared to Milanor Paris. Most brands estimate that at least onethird of their European revenues are coming fromsales to tourists.

Most of our portfolio holdings continued to havegood sales momentum during the summer.Richemont (Cartier, Piaget, Panerai, IWC, Chloéetc) for example reported a 23% sales growth,with organic growth of 13% in the last fivemonths through August. Bearing in mind thatthe Richemont group has 17 luxury brands inthe soft and hard luxury space, we see it as abetter proxy to the sector’s sales momentum.Other soft luxury names, such as Hermes, alsoreported strong sales momentum in September.

In Q3, best performance contributors were:

Michael Kors, which reported same stores salesgrowth of 45% in the US; Prada, whichcontinued to report industry best in class samestore sales growth of 19% globally; and SandsChina, which has newly opened another casinoproperty in September in Cotai Macau focusingon the mass market.Performance detractors were two UK luxurynames – Burberry and Mulberry. Burberryreported disappointing performance in the lastquarter. Burberry’s management has said theywill introduce mini collections more often andrevitalize sales momentum into Christmas.


China’s Golden Week holiday in the first weekof October has shown good consumptionmomentum and is a good start to Q4. Retailsales and catering spending in Mainland Chinahas increased by 15% according to Ministry ofCommerce. Consumer cosmetics continue toachieve healthy double digit sales growth inHong Kong retail sales. Macau’s gamingrevenue also came in with a positive surprise inSeptember with 12% growth, picking up aftertwo months of low single digit growth in thesummer.

We expect global luxury sales to grow at around11% this year. The luxury brands will probablygrow organically by 5%and grow around 6% withnew additional store space (net new storeopenings). In terms of market growth, we expectthe Chinese luxury market to grow at 3 to 4 timesChinese GDP growth. Historically, the Chineseluxury market has grown with a 28% compoundannual growth rate in the last 10 years.

We continue to have large exposure to soft luxurynames like Prada, Tod’s, Burnello Cucinelli,Hermes, Christian Dior and Michael Kors and

expect these names to deliver double digit salesgrowth into the Christmas and the Chinese NewYear quarter. All of these brands have strongexposure to high margin luxury categories suchas handbags, leather goods and smallaccessories and little exposure to apparel, whichis a more cyclical product category. The Italiansoft luxury companies in particular currently scorevery well on all metrics and are relativelyunderpenetrated in the emerging markets. Wehave large investments in Prada and Tod’s.

Portfolio managementJuan Manuel Mendoza started his career in 1997 as an equity broker, in the Institutional Equity Division of Salomon Smith Barney, Zurich and New York.Thereafter, he worked at Bank Julius Bar in Zurich. During 2006, he joined Credit Suisse (formerly Clariden Leu) and has been the fund manager of theCredit Suisse SICAV (Lux) Equity Luxury Goods Fund from 2008 onwards. He had won three Lipper Fund Awards in France, Germany and Austria in 2011.Since 2011, Juan has been the co-manager of the Credit Suisse SICAV (Lux) Silk Road Equity Fund.Juan holds an MBA in Corporate Finance from the Goizeta Business School at Emory University in Atlanta, USA.


314

Fund manager Michael Lee ZempFund manager since 31/03/2012Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 61.80Inception date 19/08/2009Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.31Benchmark (BM) MSCI AC Far East ex Japan (NR)Unit Class Category B

(capital growth)



Fund 78


Credit Suisse SICAV (Lux) Asian Equity Dividend PlusClass B


2007 2008 2009 2010 2011 201240

60

80

100

120

140

160

180

-60%

-40%

-20%

0%

20%

40%

60%

80%

28.1

-50.5

66.5

25.5

-17.1

11.7

36.5

-50.6

68.9

19.4

-14.8

14.9

CS SICAV (Lux) Asian Equity Dividend PlusB


MSCI AC Far East ex Japan (NR)Yearly or year-to-date performance respectively(Benchmark)



Sectors in %

Telecommunications 14.57Banks and othercredit inst. 14.00Electrical appliancesand components 9.75Electronics andsemiconductors 7.77Petroleum 5.61Finance a. holdingcompanies 5.17Automobiles 4.72Internet, softwareand IT services 4.34Real estate 4.09Others 29.98



Countries in %

China 25.26South Korea 18.89Taiwan 15.23Hong Kong 12.04Malaysia 6.71Thailand 6.39Singapore 6.13Indonesia 3.43Philippines 2.19Others 3.74

Top 10 holdings in %Samsung Electronics 6.00Taiwan Semicon 4.98China Mobile 4.68Cheung Kong 2.72LG Chemicals 2.32Baidu Inc. 2.27SJm Hldgs 2.11Sands China Ltd. 2.05Cnooc LTD 2.03Ishares FTSE China Tracker 2.03Total 31.19

Investment policyThe fund´s objective is to achieve maximumlong-term capital gains by investing in securities,while maintaining an adequate diversification ofrisks. It actively invests primarily in shares andsimilar instruments issued by companiesestablished in Asia, a region that includes China,Hong Kong, Indonesia, Malaysia, the Philippines,Singapore, South Korea and Taiwan as well asThailand but excluding Japan. The fund seeksto identify undervalued stocks across all marketcapitalization classes and industry sectors. Itprovides investors with access to some of theworld´s fastest-growing economies and enablesthem to participate in the region´s long-termsustainable growth.

Fund facts


Bloomberg ticker CCLAPEB LXNet Asset Value 136.79

Number of holdings


Cre

dit S

uiss

e S

ICA

V



315


Credit Suisse SICAV (Lux) Asian Equity Dividend PlusClass B


The MSCI AC Far East ex Japan index gained+8.8% during Q3, outperforming the MSCIWorld by about +2.7%. In the first half of JulyAsian stock markets corrected on news thateconomic growth in China will slow further andon renewed concern that Greece may not meetits bailout targets. Risks assets then rallied in thefirst half of August after ECB President Mario

Draghi said policy makers will do whatever isneeded to preserve the euro. In September theAsia stock index rose more than +6% after abetter-than-estimated US jobs data and by theFed`s announcements of continued monetaryeasing.

Hong Kong, Taiwan and Thailand were the best

performing countries in Asia with total returns of+12.5%, +11.9% and +11.3% respectively inQ3. The bottom three countries were Philippines,China and Malaysia. They all posted returns ofabout +5%. The following sectors outperformedtheir benchmark during the quarter: IT,healthcare, telecom services, materials andutilities.


Global growth continues to struggle. The IMFhas just revised their global forecast down to+3.3%, partly because of greater uncertainty(October review 2012). Over the past quarter,Asia has seen economic conditions gradually

worsening as a consequence of external weakdemand for the region`s manufacturing sector.Weak data and a sluggish growth outlook forChina have brought down the region`s growthforecast for 2013. The IMF also revised China

and developed Asia down to +8.2% (-0.2%) and+7.2% (-0.3%) for 2013. Growth is stabilizingbut, looking ahead, the recovery is likely to besubdued.

Portfolio managementMichael Zemp verfügt über mehr als 11 Jahre Anlageerfahrung. Seit Dezember 2007 ist Michael Zemp bei der Credit Suisse und verantwortlich fürasiatische Aktien. Bevor er zur Credit Suisse kam, arbeitete er 3.5 Jahre bei der Bank Frey als Aktienanalyst und Fondsmanager für globale Aktien. Davorwar Michael Zemp bei UBS Global Asset Management in Zürich, wo er den Megatrends, Asia-Pacific und Japanese Fund verwaltete. Er verfügt über einenBachelor in Wirtschaft der Universität Luzern.


316

Fund manager Irene Beatrice PuettnerFund manager since 01/02/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 153.16Inception date 05/10/2001Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.25Benchmark (BM)

NASDAQ Biotechnology Index (RI) (04/07)Unit Class Category B

(capital growth)



Fund 56


Credit Suisse SICAV (Lux) Equity BiotechnologyClass B


2007 2008 2009 2010 2011 201260

80

100

120

140

160

180

200

-40%

-20%

0%

20%

40%

60%

80%

100%

5.2

-14.1

8.7 12.22.9

41.8

8.9

-12.6

15.8 15.3 12.1

37.3

CS SICAV (Lux) Equity Biotechnology B Yearly or year-to-date performance respectively (Fund)NASDAQ Biotechnology Index (RI) (04/07) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %

Biotechnology 84.66Pharmaceuticals 9.44Life SciencesTools & Services 5.44Health careequipment andsupplies 0.15Cash/CashEquivalents 0.31



Countries in %

USA 88.78Switzerland 5.11Denmark 3.39Ireland 1.07Israel 0.96United Kingdom 0.39Others 0.31

Top 10 holdings in %Alexion Pharma. 7.11Gilead Sciences 6.96Celgene 5.97Biogen 5.82Regeneron Pharma. 5.48Amgen 5.45ONYX Pharmaceuticals 4.97Vertex Pharma 4.64Biomarin Pharmaceutical 4.19Ariad Pharmaceuticals 3.95Total 54.54

Investment policyThis sector-based equity fund globally invests instocks of biotechnology companies to achievelong-term capital appreciation while maintainingan adequate distribution of risks. It offers accessto one of the fastest-growing segments of thehealth sector, and opportunity to participate ingrowth in value tied to clinical progress ofinnovative products from early stage to thoseready to be brought to market. The fund investsin numerous therapeutics areas, as well asdiagnosis and preventative treatments. Theportfolio is not constrained either in terms ofgeography or by market capitalization. TheNASDAQ Biotechnology TR serves as thebenchmark.

Fund facts


Bloomberg ticker CLABIOT LXNet Asset Value 206.63

Number of holdings


Cre

dit S

uiss

e S

ICA

V



317


Credit Suisse SICAV (Lux) Equity BiotechnologyClass B


Biotechnology seemed relatively resilient towardseconomic slowdown and the structural concernscentering around the EU and continued to bea safe haven for investors. During Q3,biotechnology outperformed broader equitymarkets and the fund gained 10.29%,performed essentially in line with its benchmark.

The sector was once again driven by intensenewsflow from the clinical and regulatory front.Ariad reported promising results with its newinhibitor for treatment of lung cancer. Onyx`snext-generation drug Kyprolis for multiplemyeloma was approved earlier than expected,while Medivation`s prostate cancer drug Xtandi,

which so far has shown advantages overcompetitor therapies, received approval after arecord three months regulatory review time bythe Food and Drugs Administration (FDA). Whileboth, Onyx`s and Medivation`s therapies, arelaunched into competitive markets wheretreatments exist, we believe that both drugseventually will take significant market shares dueto the improved clinical benefit compared to theexisting treatments.

Gilead benefited from the clinical developmentsetback of competitors with their drug candidatesfor treatment of Hepatitis C. Gilead is working onan all oral treatment against Hepatitis C, which

if supported by more clinical data, might replaceinjectable interferon-based therapies againstHepatitis C. This, together with the successfulexpansion of their HIV franchise caused a niceshare price gain.

In contrast, Progenics did not receive FDAapproval for the constipation drug Relistor foruse in patients with chronic, non-cancer pain.The stock was therefore the largest performancedetractor. Incyte declined after the companyissued a conservative sales guidance for itsnewly launched medicine Jakafi used to treatmyelofibrosis, a bone marrow disorder, thus notmeeting the high expectations of investors.


We remain positive on biotechnology, which willin our view remain a high-growth segment andoutpace the pharmaceuticals market. Innovativetherapies for unsolved medical problemscontinue to be the growth drivers for the biotechindustry, irrespective of the economicenvironment. We expect Q3 results for the largecap biotechnology companies to be largely inline or better than expectations, supporting themultiple expansion seen since the beginning ofthe year. Multiple expansion started at a historicalvaluation trough and we believe that valuationsremain attractive.

An important theme for healthcare in thenear-term will certainly be the outcome of thepresidential elections in the US. We believe thatbiotechnology is one of the sub-industries thatshould not be affected much, no matter who willbe the winner.

Clinical results and regulatory milestones willcontinue to be the drivers for the sector. DuringQ4, clinical results will be presented at a numberof medical conferences, for example also fortreatment of Hepatitis C. We also expect moreregulatory approvals, for example forBiogenIdec’s new oral multiple sclerosis

treatment and for Ariad`s Ponatinib for treatmentof chronic myeloid leukemia, which if approved,will compete with Novartis` Gleevec. First launchresults for Medivation`s Xtandi for prostatecancer and Onyx`s cancer drug Kyprolis will drawattention and deliver a first trajectory for thecommercial potential. It will also be interestingto see how the two newly approved obesitytreatments from Vivus and ArenaPharmaceuticals will launch in the market. Wethink alliances and acquisitions of biotechcompanies will remain important as well andmight offer attractive return potential.

Portfolio managementIrene Püttner is a life sciences specialist with 11 years of investment track record. She joined the Credit Suisse Group in 2008 and has managed the CreditSuisse Biotechnology Equity Fund since February 2008. From 2001-2007 she worked as a life sciences fund manager and analyst at Bank Sarasin inBasel, Zürich and London managing HealthSar, a fund investing in biotech, pharma and medical technology companies. In addition, she was co-managerof a fund focusing on innovation across various industries including life sciences and technology.Irene dedicated her entire career to life sciences. She got to understand the industry she is investing in from scratch: she worked during 12 years inexperimental scientific research covering several therapeutic fields in academia as well as at Roche and Novartis in the USA and Switzerland, followed byeight years as business development manager with a strong deal track record at Ciba-Geigy, Novartis, Discovery Technologies and Syngenta.Through her three decades of activities in the life science industry, Irene has a strong knowledge of the therapeutic areas, the companies and connectionsto their management.Irene holds a doctoral degree in natural sciences of the ETH in Zürich, Switzerland.


318

Fund manager Irene Beatrice PuettnerFund manager since 01/02/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 153.16Inception date 28/02/2006Management fee in % p.a. 1.92TER (as per last Annual Report) in % 2.27Unit Class Category R - hedged

(capital growth)



Fund 56


Credit Suisse SICAV (Lux) Equity BiotechnologyClass R EUR


2007 2008 2009 2010 2011 20128090

100110120130140150160

-20%-10%

0%10%20%30%40%50%60%

1.9

-12.7

6.711.6

2.4

41.9

CS SICAV (Lux) Equity Biotechnology R EUR Yearly or year-to-date performance respectively (Fund)



Sectors in %



Annualised volatility in % 18.62 20.36Tracking Error (Ex post) - -Beta - -

Countries in %




Fund facts


Bloomberg ticker CLBIEHE LXNet Asset Value 140.85

Number of holdings


Cre

dit S

uiss

e S

ICA

V



319


Credit Suisse SICAV (Lux) Equity BiotechnologyClass R EUR















320

Fund manager Irene Beatrice PuettnerFund manager since 01/02/2008Location ZürichFund domicile LuxembourgFund currency USDClose of financial year 30. SepTotal net assets (in millions) 153.16Inception date 05/10/2001Management fee in % p.a. 0.90TER (as per last Annual Report) in % 1.36Benchmark (BM)

NASDAQ Biotechnology Index (RI) (04/07)Unit Class Category I (capital

growth)



Fund 56


Credit Suisse SICAV (Lux) Equity BiotechnologyClass I


2007 2008 2009 2010 2011 201260

80

100

120

140

160

180

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0%

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6.1

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42.7

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37.3

CS SICAV (Lux) Equity Biotechnology I Yearly or year-to-date performance respectively (Fund)NASDAQ Biotechnology Index (RI) (04/07) Yearly or year-to-date performance respectively (Benchmark)



Sectors in %




Countries in %




Fund facts


Bloomberg ticker CLABI1B LXNet Asset Value 217.34

Number of holdings


Cre

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321


Credit Suisse SICAV (Lux) Equity BiotechnologyClass I















322

Average remaining termThe average remaining term until maturity of the investmentscomprising a bond fund.

Annualized volatilityAnnualized volatility measures the risk of a fund. It describesthe range of returns most likely to be achieved. The biggerthe volatility, the greater the uncertainty regarding a fund'slikely return, and the riskier it is. Annualized volatility may becalculated by using the lognormal annualized standard deviationof a fund's return distribution.

BenchmarkIndex that serves as a basis of comparison when measuring afund’s performance. Benchmarks enable investors to comparethe performance of fund managers and to make a balanced,objective judgement.

BetaBeta is a factor describing the sensitivity of a fund's return to itsmarket index. Values below 1 indicate a defensive fund, whichmoves less in either direction than the expected return of theindex. Values greater than 1 indicate aggressive positioning anda beta value of 1 means that the fund is expected to move inline with market returns.

EU taxationOn July 1, 2005, the EU Savings Tax Directive came intoforce. It is applicable to cross-border interest payments toEU-domiciled natural persons (and associated products with aninterest component) – regardless of the country of domicileof the issuer of the interest-bearing securities (exception: theissuer's country of domicile is Switzerland).

The tax rates are staggered as follows:07-01-2005 – 06-30-2008: 15%07-01-2008 – 06-30-2011: 20%From 07-01-2011: 35%

A specialized identification system introduced by Credit Suissereveals the degree to which products are affected. A distinctionis drawn between the following designations:

Current tax classification with regard to EU taxation

In scope – tax: EU taxation applies to the product

In scope – no tax: No EU taxation, as the productmeets one of the exemption rules(e.g. grandfathered bonds, fundswith low taxable interest income)

In scope – tax exempt: No EU taxation, as the distributionsare also subject to Swisswithholding tax in the case offoreigners

Out of scope: No EU taxation

DistributionA “dividend” paid to unit holders, usually on a yearly basis, whichmay be made up of income derived from both the investmentfund and from realised capital gains. The amount of thedistribution is determined by the fund management.

Duration (modified duration)The duration shows the weighted-average term to maturity ofa bond’s cash flows (i.e. interest payments and repayments ofcapital). Duration is also a risk yardstick for bonds. When thelevel of interest payable changes by 1%, the expected pricechange of the bond corresponds approximately to the duration,expressed as a percentage.

Fund domicileThe place where the investment fund is domiciled. The funddomicile defines the law by which the fund is regulated and isespecially important for tax reasons.

Gross portfolio yieldThe Gross Portfolio Yield is the total yield of a portfolio beforethe deduction of fees. It is equal to the investment yield of thesecurities held in the portfolio.

Information ratioA fund’s outperformance can be attributed to the skill of theportfolio management or market moves. The higher theinformation ratio, the higher the contribution of manager skill.To determine the information ratio, the difference between theaverage annualized return of a fund and the average annualizedreturn of its benchmark is calculated and then divided by thetracking error of the two components.

Glossary of Terms

324

ISIN number (International Securities IdentificationNumber)Fund identification: International equivalent to the Swiss securitynumber.

Issuing commissionA commission charged to investors when they purchase units inthe fund.

Management feeRemuneration paid to the fund management company formanaging the fund. The management fee is expressed on anannual basis as a percentage of the fund’s assets and deductedfrom the fund’s assets on a proportionate daily basis.

Maximum drawdownThe maximum drawdown is the biggest downside pricemovement for the observed period of time.

Net asset valueThe NAV of a fund unit is the current market value of the fundon a particular reference date, less any liabilities, and divided bythe number of outstanding units. The NAV is usually calculatedand published on a daily basis.

Net portfolio returnWeighted average of returns upon maturity of all securitiescomprising a fund, after deduction of the fund managementfee.

Retail sales registrationThe fund is registered and can be sold in the retail markets ofthe listed countries.

Total returnTotal increase in value of an investment fund over a certainperiod of time, expressed as a percentage, and comprisingboth distributions and price gains. The cumulative return is thetotal return on the investment achieved over several years. Theaverage increase in value over 3 and 5 years is the averageannual performance over the last 36 and 60 months.

Tracking errorThe tracking error shows (in %) the deviation of the return of afund compared to the return of a benchmark over a fixed periodof time. A small tracking error indicates a passively managedportfolio.

Total expense ratio (TER)The TER shows the total costs of a fund in relation to the fundstotal assets and is expressed as a percentage. These costsinclude management fees, trading fees, legal fees, auditor feesand other operational expenses.

Info

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Factsheet Explained

Basic InformationCredit Suisse logo

Fund name and unit classFull legal name of Fund which has been detailed on the Factsheet.

Factsheet month and distribution channelDate for which the Factsheet has been issued followed by the distributionchannel.

Investment policyA short description of the Fund’s investment aim, primary asset class andkey markets in which it invests.

Fund factsCore information about a Fund. Where appropriate, details are separatedout into share class specific information.

Performance graphThe Performance graph plots the monthly movement for a Fund andBenchmark, rebased to 100, and displays the Annual Return for each ofthe last five calendar years, in the Fund base currency.

Performance tableTable displaying the net Total Return of a Fund and Benchmark, overvarious time horizons, ranging from one month through to five years andsince inception, to Factsheet month end, in the Fund base currency.

Disclaimer/footnotesLegal text relevant for each Jurisdiction responsible for distributing therespective Factsheets.

Breakdowns (Fixed Income Funds)Maturities in %Bar chart depicting the percentage breakdown of Maturities in a Fund’sportfolio, in terms of designated time bands, as at the last trading pointrelevant to the Factsheet month end.

Credit ratings in %Pie Chart depicting the shares of each rating category in a fixed incomeportfolio.

Currencies in %Table depicting the percentage breakdown of a Fund’s currency splitbefore versus after currency hedging.

Number of holdingsTable lists the number of holdings in a Fund’s and it's Benchmark'sportfolio.

Asset allocation in %Table depicting the percentage breakdown of a Fund’s portfolio holdingsby asset class, as at the last trading point relevant to the Factsheet monthend.

Duration and yieldTable depicting key statistics with respect to fixed income characteristicsin the Fund’s portfolio.

Fund statisticsThis section covers major statistics, to describe a fund’s behaviour withrespect to its Market Index.

Top 10 holdings in %Table listing the largest Holdings, by percentage value in the portfolio ofa Fund as at the last trading point relevant to the Factsheet month end.Table includes information on Coupons and Maturities.

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Breakdowns (Equity Funds)Sectors in %Table depicting the sector breakdown, by percentage holding in theportfolio of a Fund and it’s Benchmark as at the last trading point relevantto the Factsheet month end.

Currencies in %Pie chart listing currency split within portfolio.

Countries in %Pie chart listing the countries breakdown, by percentage holding in theportfolio of a Fund as at the last trading point relevant to the Factsheetmonth end.

Significant transactionsTable depicting the largest transactions within the Fund’s portfolio sincelast month’s end.


Top 10 holdings in %Table listing the largest Holdings, by percentage value in the portfolio of aFund as at the last trading point relevant to the Factsheet month end.

Breakdowns (Portfolio Funds)Allocation asset classes in %Pie chart depicting the percentage breakdown of a Fund’s portfolioholdings by asset class, as at the last trading point relevant to theFactsheet month end.

Allocation currencies in %Pie chart listing currency split within portfolio.

Asset allocation in %Matrix of Asset Classes and Currency Breakdowns as at the last tradingpoint relevant to the Factsheet month end.

Maturities in %Bar chart depicting the percentage breakdown of Maturities in a Fund’sportfolio, in terms of designated time bands, as at the last trading pointrelevant to the Factsheet month end.


Duration and yieldTable depicting key statistics with respect to fixed income characteristicsin the Fund’s portfolio.

Allocation of bonds in %Table depicting the percentage breakdown of a Fund’s Fixed Incomeholdings by asset class, as at the last trading point relevant to theFactsheet month end.

Top 10 holdings in %Table listing the largest Holdings, by percentage value in the portfolio ofa Fund as at the last trading point relevant to the Factsheet month end.Table includes information on Coupons and Maturities.

Info

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327

This document was produced by Credit Suisse AG and/or itsaffiliates (hereafter “CS”) with the greatest of care and to thebest of its knowledge and belief. However, CS provides noguarantee with regard to its content and completeness anddoes not accept any liability for losses which might arise frommaking use of this information. The opinions expressed in thisdocument are those of CS at the time of writing and are subjectto change at any time without notice. If nothing is indicatedto the contrary, all figures are unaudited. This document isprovided for information purposes only and is for the exclusiveuse of the recipient. It does not constitute an offer or arecommendation to buy or sell financial instruments or bankingservices and does not release the recipient from exercising his/her own judgment. The recipient is in particular recommendedto check that the information provided is in line with his/herown circumstances with regard to any legal, regulatory, tax orother consequences, if necessary with the help of a professionaladvisor. This document may not be reproduced either in part orin full without the written permission of CS. It is expressly notintended for persons who, due to their nationality or place ofresidence, are not permitted access to such information underlocal law. Neither this document nor any copy thereof may besent, taken into or distributed in the United States or to any U.S. person.

Every investment involves risk, especially with regard tofluctuations in value and return. Investments in foreigncurrencies involve the additional risk that the foreign currencymight lose value against the investor's reference currency.Historical performance indications and financial marketscenarios are no guarantee for current or future performance.Performance indications do not consider commissions levied atsubscription and/or redemption. Furthermore, no guarantee canbe given that the performance of the benchmark will be reachedor outperformed.

In connection with the investment products, the Issuer and/or its affiliates may pay to third parties, or receive from thirdparties as part of their compensation or otherwise, one-time orrecurring remunerations (e.g. placement or holding fees). Youmay request further information from your bank/relationshipmanager.

International investments (in particular in emerging markets),investments in smaller companies, investments in funds or

investment strategies that focus on a sector, country or region,as well as other specific investments where the investmentguidelines permit the use of debt or derivative instruments, carryspecific risks.

All MSCI data is provided “as is”. The products described hereinare not sponsored or endorsed and have not been reviewed orpassed on by MSCI. In no event shall MSCI, its affiliates or anyMSCI data provider have any liability of any kind in connectionwith the MSCI data or the products described herein. Copyingor redistributing the MSCI data is strictly prohibited.

“Dow Jones®”, “DJ”, “UBS”, “DJ-UBS Commodity IndexSM”,and “DJ-UBSCISM” are service marks of Dow Jones &Company, Inc. (“Dow Jones”) and UBS AG (“UBS AG”), asthe case may be, and have been licensed for use for certainpurposes by Credit Suisse Fund Management S.A.(“Management Company“). The Management Company andthe Credit Suisse Fund (Lux) Commodity Index Plus subfundsbased on the DJ-UBS Commodity IndexSM, are not sponsored,endorsed, sold or promoted by Dow Jones, UBS or any of theirrespective subsidiaries or affiliates, and none of Dow Jones,UBS or any of their respective affiliates, makes anyrepresentation regarding the advisability of investing in suchproduct(s). The prospectus contains a more detailed descriptionof the limited relationship Dow Jones, UBS has with theManagement Company and the Fund.

The EURO STOXX 50® is the intellectual property (includingregistered trademarks) of STOXX Limited, Zurich, Switzerlandand/or its licensors (“Licensors”), which is used under license.The Fund based on the Index is in no way sponsored, endorsed,sold or promoted by STOXX and its Licensors and neither ofthe Licensors shall have any liability with respect thereto.

“FTSE®”, "FT-SE®", "Footsie®", “FTSE4Good®” and“techMARK” are trade marks jointly owned by the London StockExchange Plc and The Financial Times Limited and are usedby FTSE International Limited (“FTSE”) under licence.“All-World®”, “All-Share®” and “All-Small®” are trade marks ofFTSE. The FTSE 100 is calculated by FTSE. FTSE does notsponsor, endorse or promote this product and is not in any wayconnected to it and does not accept any liability in relation to itsissue, operation and trading. All copyright and database rightsin the index values and constituent list vest in FTSE.

Important Information

328

The securities presented in this publication are not supported,assigned, sold or advertised by SIX Swiss Exchange. No liabilityis accepted. SMI®, SMIM®, SLI®, SBI® and the relevantindices are registered trademarks of SIX Swiss Exchange andmay be used only under license from the owner.

Standard & Poor’s® and S&P® are registered trademarks ofStandard & Poor’s Financial Services LLC (“S&P”) and havebeen licensed for use by the Manager. The Fund is notsponsored, endorsed, sold or promoted by S&P or its Affiliates,and S&P and its Affiliates make no representation, warranty orcondition regarding the advisability of buying, selling or holdingshares in the Fund.

The composition of customized benchmarks, as well asadditional explanations of linked benchmarks, can be obtainedfrom the Fund management company or the Fund’s

representative in Switzerland.

Subscriptions in the investment funds mentioned in thispublication are only valid on the basis of the current salesprospectus, simplified prospectus (if available) and the mostrecent annual report (or half-yearly report, if this is more recent).The prospectuses, the management regulations and/orconstitutional documents as well as the annual and half-yearlyreports may be obtained free of charge from CREDIT SUISSEFUND SERVICES (LUXEMBOURG) S.A., P.O. Box 369,L-2013 Luxembourg and from any bank in the Credit SuisseGroup AG.

The Total Expense Ratio (TER) is the sum of all commissionsand costs charged on an ongoing basis to the average fundassets (operating expenses). The value (ex ante) is expressedas a percentage of the fund’s assets and projects the averageof the next twelve months under the same preconditions.

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Fund related information and reading – Luxembourg

Postal Address CREDIT SUISSE FUND SERVICES (LUXEMBOURG) SACustomer Service DepartmentP.O. Box 369L-2013Luxembourg

Dealing Department TelephoneFacsimileEmail:

(+352) 43 82 82(+352) 42 38 [email protected]

Client Services Department TelephoneFacsimileEmail:

(+352) 43 61 61 621/617(+352) 43 61 61 [email protected]

Reconciliation Department Email: [email protected]

Price Publications Reuters, Bloomberg, Telekurs

Publications Austria:Belgium:France:Germany:Italy:Luxembourg:Switzerland:

UK:Netherlands:

Der Standard/Wiener ZeitungDe Standaard/De TijdL’Echo/La TribuneBoersen-Zeitung/FAZIl Sole 24ore/Milano FinanzaMemorial/Lux WortNeue Züricher Zeitung/Cash/Handelszeitung/Der Bund/Le Temps/Corriere del TicinoFinancial TimesHet Finacieele Dagblad

Produced by Marketing EMEA, Asset Management

Contacts

330

booklet issuerId channelId languageId perDateFund Factbook9926 9910 2 20120928

fund factbook luxembourg funds data as at … factbook luxembourg funds data as at september ......

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