Wells Fargo Asset Management has unveiled a new UCITS-compliant investment grade credit fund for institutional and retail investors.
The new Luxembourg-domiciled vehicle, named EUR Investment Grade Credit Fund, is a sub-fund of the Wells Fargo (Lux) Worldwide Fund and will have over €100m of assets at launch.
It will combine fundamental credit research and top-down allocation decisions to help investors gain access to European investment grade credit, and will target more returns compared to those provided by the government bond market.
Apart from Luxembourg, it will also be available in France, Spain, Switzerland, Austria, Finland, Sweden, Norway, Netherlands, Germany, Ireland, Italy and the UK.
The fund will be managed by Henrietta Pacquement and Alex Temple of ECM Asset Management, which will serve as a sub-adviser of the fund.
“We see extensive opportunities in the current climate of European credit markets and believe ECM’s seasoned team is well-positioned to generate risk-adjusted returns for our investors. Our pioneering work in the European investment grade space means that we bring significant knowledge and experience to our fund management,” Pacquement said.