Credit Suisse Continues Barrage Of Risky Investment Instruments

Credit Suisse Group AG (NYSE:CS) launched a new attack on standard financial practice today with a new mutual fund. The new instrument, called the Credit Suisse Liquid Alternative Fund, will mimic a hedge fund in its strategy but will operate like a mutual fund welcoming all comers. The fund marks a new round in a game Credit Suisse has long been playing. The firm, like many financial institutions, has been expanding into new types of instruments, some of them more risky than others.

The bank's new fund will, according to a researcher for the company Jordan Drachman, "offer...