Credit Suisse Floating Rate High Income Fund drops manager Lerner

By Toni Weeks

San Luis Obispo, Calif., May 17 - The Credit Suisse Floating Rate High Income Fund reported that David H. Lerner is no longer part of the fund's portfolio management team, according to a 497 filing with the Securities and Exchange Commission.

John G. Popp, Thomas J. Flannery and Wing Chan will continue to manage the fund, with Popp as lead manager.

Under normal conditions, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in high-yield, fixed-income securities solely consisting of senior secured floating-rate loans issued by non-investment-grade companies.

New York-based Credit Suisse Asset Management, LLC is the investment adviser to the fund.

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