UK-based First State Investments has rolled out a new absolute return bond fund that invests in global bond and currency markets.
Dubbed as First State Global Interest Rates and Currency Fund, the Sicav will seek worldwide absolute returns and will be managed by the firm’s head of macro fixed income Kieron Nutbrown.
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Nutbrown currently oversees the newly formed Global Macro team based in London.
The fund launch comes as part of the firm’s strategy to expand its fixed income fund range.
The fund has been designed to deliver positive absolute returns to investors in low and potentially rising yield environments and assists investors navigate the world of rising interest rates.
Paul Griffiths fixed income chief investment officer at First State said: "Establishing this new team and launching the fund are important steps in enhancing our existing business and demonstrates our commitment to offering a range of high quality fixed income strategies to our clients worldwide."
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