US-based Legg Mason Global Asset Management is reportedly planning to roll out a global credit fund for one of its affiliates.
Dubbed as the Legg Mason Brandywine Global Credit Opportunities fund, the investment offering is pending the fund’s registration in the UK, as reported by moneymarketing.co.uk.
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According to the investment management firm, the new fund will be managed by Brandywine’s global credit team.
It is a Dublin-domiciled version of Brandywine’s US Global Alternative Credit fund, which aims to invest in multi-currency global investment-grade and high-yield bonds, leveraged loans, emerging market debt and structured credit opportunities.
The minimum investment for the fund is £1,000 with an initial off-platform charge of 5% and an AMC of 1.65%.
Three Counties IFA Andrew Alexander told the moneymarketing.co.uk: "It is very important for fixed income managers to give themselves the tools to navigate the current market conditions, especially with the issue of rate rises on the horizon.
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By GlobalData"The ability to use different tools and currencies in the market is valuable. But it is also important to have the track record and history, and Brandywine has this."
