High-yield bond launch at Metzler

Metzler Payden is set to launch a Dublin-based high yield bond fund using the expertise of both its US and Europe-based analysts. Kevin Height, director of Metzler Payden, said: "Given the size and depth of the US high yield market, the fund will invest around 80%-85% of its assets there." The euro-denominated fund will focus solely on developed markets and will not contain any convertibles, Height said. The US research will be done by Metzler Payden's team of analysts based in Los Angeles, while the European work will be done by the company's team in Frankfurt. Height said: "We have ...