Henderson Global Investors has added to its fixed income range with the launch of the Henderson Horizon Global High Yield Bond Fund on the 19 November 2013.

The Luxembourg domiciled SICAV fund will be co-managed by Kevin Loome, based in the US, and Chris Bullock, based in the UK. Working together with the 17-strong credit team, the managers will seek to identify the best opportunities in high yield from across the globe.

Kevin Loome, head of US Credit, joined Henderson in January this year together with a 5-strong US credit team and is based in Philadelphia. The US team has more than 90 years’ cumulative industry experience.

London based Chris Bullock has been at Henderson for 10 years and is co-manager of the Henderson Horizon European Corporate Bond Fund, which has returned 23.5% over three years against a benchmark of 16.5%. Chris also co-manages the Henderson Horizon Euro High Yield Bond Fund which launched in November 2012.

The Henderson Horizon Global High Yield Bond Fund will have an emphasis on total return and will focus on credit selection rather than moving between industries or credit. The Fund will be at least 70% weighted to US dollar, Euro and Sterling high yield bonds.

It will consist of a concentrated portfolio of between 75 and 125 holdings, albeit well-diversified in terms of issuers, sectors and geography. Any non-US dollar denominated bonds will be hedged back to the US dollar.

Kevin Loome said: "High yield bonds have historically offered an attractive middle ground for investors, who have been rewarded over the long term with high total returns. At a time when interest rates are hovering at historic lows, defaults are low and we are returning to a relatively benign credit environment, the Fund will offer investors access to the most attractive high-yield securities from across the globe."

Chris Bullock said: "The high yield bond market continues to grow, with the total market valued at US$1.9 trillion and more than 3400 bonds in issue. It is clear that issuers outside the US have become more prominent in recent years and although we expect market size in all regions to expand, Europe and Emerging Markets are likely to make up a bigger share in the future. Henderson’s credit team, with professionals based in Europe and the US is ideally placed to capture this trend, utilising its skill in credit selection to identify those securities we believe offer the most potential."