Threadneedle has unveiled a new Luxembourg-domiciled global corporate bond fund that invests primarily in diversified investment grade bonds.
Known as Threadneedle (Lux) Global Corporate Bond fund, the fund will be managed by London-based portfolio manager Alasdair Ross.
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The fund seeks to generate a total return from income and capital appreciation by investing in diversified investment grade bonds, money market instruments and cash, either directly or indirectly through derivatives.
The fund may also invest up to one third of its assets in debt securities other than investment grade corporates including, but not limited to, government and high yield bonds.
Benchmarked against the Barclays Capital Global Aggregate Corporates Index hedged to US Dollars, the fund aims to deliver a return of +150 to 175 bps over the index (gross) in rolling three-year periods.
In addition, the fund follows a three-pronged investment approach, which combines issuer selection with top down industry and asset allocation insights.
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By GlobalDataThe fund will be offered through the global fixed income platform of Threadneedle Investments and Columbia Management, which together form Ameriprise Financial.
Threadneedle intends to expand the fund’s distribution to the UK, Austria, Belgium, France, Germany, Italy, the Netherlands, Portugal, Singapore, Spain, Switzerland and Sweden.
Jim Cielinski, head of fixed income, Threadneedle, said: "With a global corporate bond strategy, we see tremendous potential to generate alpha for our clients through a flexible approach with less geographic constraints than regional portfolios."
