Pictet Asset Management has launched a Luxembourg-domiciled UCITS compliant fund, investing in EUR high yield short-dated bonds.
Lead manager of the Pictet-EUR Short Term High Yield fund is Roman Gaiser, who has 16 years of experience in managing high-yield bonds.
Pictet Asset Management, the asset management arm of the Swiss private bank Pictet & Cie, says that in an environment of moderate growth, low inflation and deleveraging, euro high yield short dated bonds offer an attractive risk/return profile in a European market that has matured at a rapid pace over the past several years.
By investing in lower-duration high-yield bonds, which are less sensitive to shifts in interest rates, the fund offers investors the opportunity to secure stable income but with a lower volatility and limited drawdown risk compared to longer-duration high-yield debt.
Working with Roman will be Alexander Baskov, Prashant Agarwal and Markus Orschulik. The team has an average of over 10 years experience in high yield bond investing. Based in Geneva, the investment team is supported by a well-resourced investment group, including equity and credit analysts and economic analysts, and will also draw upon market-leading risk analytics. The team uses a combination of top-down and bottom-up investment approaches aimed at creating a well diversified portfolio across shorter maturity buckets, sectors and ratings.
Commenting on the launch, Roman Gaiser, the fund’s lead manager, said, “The market has now achieved a critical mass in European short term high yield, which makes this asset class both investible and desirable.”
The fund is registered for sale in the UK.
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