Swiss asset manager Fisch launches global high yield bond fund
Fisch Asset Management, headquartered in Zurich, launched the Bond Global IG Corporates Fund, which invests in global investment grade (IG) corporate bonds in multiple currencies.
The fund, which is registered for sale across Europe, including Italy, France and Spain, may invest up to 10% of its assets in high yield bonds to take advantage of opportunities in the so-called cross segment. -over ”.
These include companies whose portfolio managers expect to upgrade to the IG segment in the near future.
With a market size of over $ 12 billion, the segment is one of the largest and most liquid in the bond universe. ”
The portfolio management team also focuses on relative value as a performance driver taking into account, among other things, credit quality, capital structure and technical market conditions.
The forerunner of the new fund was the Fisch Bond Global Corporates Fund, launched in 2014 and whose good quality investment universe includes a strategic allocation to emerging markets and high yield bonds.
Both products are managed by Maria Staeheli and Oliver Reinhard.
Staeheli said: “Together with corporate bonds, the fund offers an attractive alternative to government bonds with low or even negative yields. In addition, the volatility of corporate bonds is lower due to the negative correlation between risk premiums and interest rates. With a market size of over $ 12 billion, the segment is one of the largest and most liquid in the bond universe. “
Prospective analysis of the sustainability of each company, as a component of the investment process, also plays a role in bond selection.
This analysis includes an assessment of whether a future improvement or deterioration in ESG factors expected by the portfolio manager has already been identified and taken into account by the market.
Hanspeter Diem, Head of Sales, said: “With our new fund, we are targeting investors who seek additional returns in the bond sector and who prefer the defensive characteristics and liquidity of the investment grade segment.”
The Fisch Bond Global IG Corporates Fund is registered for sale in Switzerland, Germany, Austria, Luxembourg, France, Italy, Belgium, Liechtenstein, Spain and the Netherlands.
Currency hedged share classes are available in CHF, EUR and USD.
Fisch Asset Management currently manages approximately CHF 4.9 billion (€ 4.4 billion) in corporate bond client assets, including dedicated strategies in high yield segments and emerging markets.