UK-based BlueBay Asset Management has unveiled the BlueBay Total Return Credit Fund to provide diversified global exposure to sub-investment grade credit through the credit cycle.
According to Hedgeweek, the Luxembourg-domiciled fund aims to achieve a total return of five to 10% per annum over the credit cycle.
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The UCITS fund is benchmark unconstrained and allocates between high yield and loans, emerging market debt and convertibles.
The newly launched fund will be managed by the firm’s asset allocation committee, which is comprised of a team of six of BlueBay’s credit experts with an average investment experience of 19 years.
Mark Poole, chief investment officer of BlueBay said that they have developed the product to meet investor demand for a more flexible approach to credit markets that is not benchmark driven, and will allow active shifts between areas of the market in a timely fashion.
"We believe the fund fits neatly into existing portfolios enabling investors to access a product that can outperform government bonds, but without inherent equity risk. Our active fixed income management style at the sub-asset class level provides a strong competitive edge," Poole added.
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