Mirabaud Asset Management has launched a high yield bond product for its latest recruit Andrew Lake, who joined the group from Aviva Investors at the start of the year.
The Mirabaud Global High Yield Bond fund is a UCITS IV offering structured as a Luxembourg SICAV. It has come to market seeded with approximately $100m of assets. The group has also appointed Crédit Agricole's Alexander Lushnikov as an analyst to support Lake (pictured) on the fund. At launch the 80-holding portfolio has an equal split between the US and Europe, with an average B rating on credits held within the fund. "B-rated credits are the sweet spot for us in Europe, although in the US we like BBs, and we will buy CCCs opportunistically," said Lake. The manager also has the...
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