Fund supermarket Allfunds bulks up with Credit Suisse deal
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ZURICH (Reuters) - Spain's Allfunds Group is buying Credit Suisse's business-to-business investment fund platform InvestLab for an undisclosed sum as the investment services industry consolidates to reap the benefits of scale. Credit Suisse will take a stake of up to 18% in the combined business, the two companies said on Tuesday. It will also receive an undisclosed cash payment. The Swiss bank said the transaction would result in a 0.5% increase in return on tangible equity (RoTE) this year,..