UK-based WyeTree Asset Management has launched a new fund targeting the European RMBS market, according to FINalternatives.

The new fund, called WyeTree European Recovery Fund, is the latest addition to the firm’s established Irish master/feeder structure.

Managed by Judith Sciamma, CEO of WyeTree, the new fund will target a 15% annualized return, and will employ WyeTree’s model-based analysis and research techniques.

WyeTree will use Carne Global Fund Services to meet local substance requirements with Carne principal Yvonne Connolly acting as an independent director on the fund’s board.

WyeTree has over $400 million in assets under management.