0BNP Paribas Asset Management has launched an inflation-linked bond fund designed for investors who ...
0BNP Paribas Asset Management has launched an inflation-linked bond fund designed for investors who are seeking long-term protection from inflation risk.
The Parvest Euro Inflation Linked Bond fund invests mainly in inflation index-linked bonds denominated in euros, but also other instruments such as floating rate notes, money market instruments and short and medium- term fixed, highly rated bonds.
Patrick Barbe, head of BNP Paribas Euro Fixed Income team, is to manage the fund. His investment philosophy is to manage actively with a view to making tactical gains from market opportunities. The portfolio's asset allocation is managed according to the strategic allocation of capital to inflation-indexed assets, in order to keep exposure to inflation risk in line with BNP Paribas's macroeconomic expectations; and tactical allocation to various instruments that form part of the investment universe.
In a separate move, BNP Paribas has signed an agreement with ZCM Investor Capital to acquire its Javelin fund of hedge funds business. BNP Paribas Fauchier Partners is to manage the business.
The Javelin fund is a multi-strategy, multi-manager, leveraged fund that has been in operation for almost four years and has a diversified client base in Europe and in Asia. It presently has $650m in assets under management.
On completion, the ZCM fund management team, currently based in New York, will move to London where BNP Paribas Fauchier Partners is based. This is to ensure continuity of product management and to complement the expertise of the existing team.
The Javelin Fund will extend BNP Paribas Fauchier Partners' existing range of funds of hedge funds products and is expected to be one of the main vehicles for the issuance of structured products by BNP Paribas Fauchier Partners.
Following the completion of this transaction, BNP Paribas Fauchier Partners will have $1.9bn of assets under management.
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