New York-headquartered various funding specialist CIFC Asset Administration has launched a “greatest concepts” multi-strategy fund that can give non-US traders publicity to the sub-investment-grade credit score sector.
Jason Horowitz, who’s head of US excessive yield bond investments on the agency, is lead portfolio supervisor of the fund. Horowitz already manages the CIFC Lengthy-Brief Credit score Fund.
Domiciled in Dublin, that is CIFC’s third fund inside a liquid Ucits construction.
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“Many imagine charges have peaked, so traders have gotten extra all in favour of fixed-rate credit score to lock within the present excessive charges,” mentioned Horowitz.
“On the similar time the specter of recession is powerful, and we imagine markets are prone to see large dispersions of returns.
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“This can be a liquid portfolio designed to suit inside a Ucits construction, with an emphasis on sub-investment grade mounted earnings mixed with our greatest concepts in areas such a structured credit score, senior secured loans and liquid credit score alternatives recognized by the distressed crew.”
The fund has its personal asset allocation committee, together with Steve Vaccaro, CIO and CEO; Steven Gendal, head of opportunistic credit score; Jay Huang, head of structured credit score investments; Stan Sokolowski, deputy chief funding officer; and Rinse Terpstra, senior funding analyst, Europe.
The brand new fund is valued each day and has each day buying and selling on subscriptions. The fund is US$-denominated, with hedged foreign money share courses in sterling, euros and Swiss francs.
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