Mutual funds: News
Leveraged loan fund from BlueBay 20/11/2008
Author: Stuart Fieldhouse
BlueBay Asset Management, one of Europe's largest independent managers of fixed income credit products, has announced the launch of its High Income Loan Fund.
The fund, which has been launched in response to investor demand within the leveraged loans space, will have the flexibility to shift asset allocation and use credit derivatives to maximise opportunities depending on market conditions.
The fund is managed by BlueBay's award-winning high yield team who, led by Anthony Robertson, currently manage in excess of US$6.6bn of European high yield bonds and leveraged loans and are one of the top performing managers in Morningstar's Fixed Income EUR - Corporate Universe for Offshore and International Funds.
"The European leveraged loan market has grown exponentially in recent years as it has become more institutionalised and mainstream," said Anthony Robertson, senior portfolio manager at BlueBay. "We believe leveraged loans represent a particularly compelling investment opportunity over the medium term as the asset class is generally trading close to recovery rate floors and offers equity type returns without having to incur equity type risk."
The fund has launched with initial seed capital of €137m.
