Friday, 25 July 2014
Last updated 8 hours ago
Mar 25 2011 | 11:53am ET
Thames River Capital has launched a new high-yield bond hedge fund.
The Global High Yield Bond Fund will invest in about 50 holdings, weighted towards developed markets but with a substantial chunk of the portfolio in emerging markets, the firm said. It will invest some 80% of assets in high-yield debt, with the remainder being placed in investment-grade bonds.
"Against a backdrop of a rebounding economies and record low interest rates, the high yield market is seeing a rapid decline in defaults and a strong pick-up in recovery rates," Stephen Drew, who manages the fund with Mehrdad Noorani, said. "We see substantial implied value in high-yield credit spreads and this underpins our belief that this is the ideal time to launch a fund with this remit."
The new fund is targeting 10% annualized returns. It is domiciled in Dublin with a £10,000 minimum investment.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…