Ivy Investment Management Company (IICO) has introduced a targeted return bond fund that seeks to provide a positive total return over the long-term across all market environments.
The new fund, called Ivy Targeted Return Bond Fund, is managed by a team of five portfolio managers with Pictet Asset Management.
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Andres Sanchez Balcazar, co-head of Pictet’s global & regional bonds team, has been named as the lead portfolio manager of the fund.
The fund has the flexibility to invest in any form of debt security issued in the U.S. or internationally, the company said.
Ivy Funds Distributor president and CEO Thomas Butch said: "Investors need a way to balance risk and return across the economic cycle. The Ivy Targeted Return Bond Fund provides the potential to gain consistent returns from diversified fixed income securities while managing volatility."
The fund may invest in any form of debt security, including corporate, US and foreign government securities, and may hold up to 50% of its assets in high-yield bonds, according to its prospectus.
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