ING Investment Management is planning to launch two new funds in April to offer wider access to its debt strategies for UK and European investors.
Subject to regulatory approval, the firm will launch Asian corporate high yield fund and a new version of its Netherlands-based asset backed securities (ABS) fund, according to Investment Week.
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The corporate high yield fund, which is a Luxembourg-domiciled UCITS fund and a replica of an existing fund offered to Japanese investors, will be run by ING IM’s head of Asian debt Joep Huntjens. The UCITS fund will be seeded with an initial capital of 100 million.
The Luxembourg domiciled European ABS fund will be regulated under the Alternative Investment Fund Managers Directive (AIFMD) and will be run by Calvin Davies and Annemieke Coldeweijer.
The European ABS fund will be seeded with a capital of 250 million from the former Dutch fund.
Peter Wilson business development manager at ING IM said: "We are taking that one step further in order to offer an area where we see strong opportunity, value and interest from clients.
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By GlobalData"Historically, ABS funds have primarily been invested in by insurance companies, and institutions like pension funds. But this mindset has changed over the past 12 to 18 months. Investors are looking to obtain interest rate protection, and the floating rate note aspect of ABS offers that.
"We continue to build partnerships, grow assets and in the sectors we see as key to our ongoing strategy," he added.
