Aegon Asset Management has launched three offshore fixed income funds for high net worth investors, based on its UK fund range.
The new range is separate from the existing Aegon Scottish Equitable International offering. The three funds available at launch are the Aegon Strategic Global Bond, High Yield Global Bond and Investment Grade Bond funds. They are run along similar lines to the onshore equivalents of Global Bond, High Yield Bond and Investment Grade but will not necessarily mirror these funds, investing with a broader international remit.
Strategic Global Bond, managed by David Roberts and Philip Milburn, invests across the gamut of fixed interest, from AAA-rated government bonds to high yield and emerging markets corporate bonds. Investment Grade Bond focuses mainly on highly rated corporate and government bonds, and is managed by Roberts with Euan McNeil in support. McNeil supports Milburn on the High Yield Global Bond fund, which invests primarily in high-yield bonds in any currency.
The Dublin-domiciled funds are registered for distribution in the UK, Channel Islands, Ireland and Switzerland. There are sterling, dollar and euro share classes, and the sterling and dollar classes are available with distributor status for UK-based investors. Minimum investment is $100,000 or the equivalent in sterling or euros, with class A shares charging an initial 4% and B shares having no front-end load. Both share classes have an annual management fee of 0.8%.
Jon Bennett, director, marketing and retail sales at Aegon Asset Management, said of the launch: “This is our first foray into the offshore fund territory and follows demand from our existing clients. These three new funds will provide a whole new group of investors with access to David and Philip’s recognised fixed income talent.”
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