Wells Fargo Asset Management has introduced a new USD investment grade credit fund that will invest in dollar-denominated credit debt securities at the time of purchase.
The new offering, Wells Fargo USD Investment Grade Credit fund, is a sub-fund of the company’s Worldwide Luxembourg Ucits fund that was launched on 15 December 2016 and raised nearly $100m of client assets since its inception.
It will be co-managed by Scott Smith, managing director and senior portfolio manager of the Wells Fargo Asset Management premier income strategies team, and Jonathan Terry, who is credit portfolio manager of the Wells Fargo premier income strategies team.
The fund will be available to institutional and retail investors in Luxembourg, Austria, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Spain, Sweden, Switzerland, Singapore and the UK.
The company also aims to register the fund in Hong Kong and South Korea in the coming months.
Wells Fargo Asset Management managing director of international business development Ludger Peters said: “We are delighted to make this latest offering available to investors who are seeking greater exposure to US denominated investment grade credit securities. The fund is led by veteran managers and provides differentiated market exposure.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData