The international subsidiary of Eaton Vance Management has launched a multi asset credit fund into the UK and offshore markets, via its Irish-domiciled qualifying investor alternative investment fund range, the company announced in a statement today.
Eaton Vance said that it was launching the Eaton Vance (Ireland) Multi-Asset Credit fund as a sub-fund of its institutional range.
The fund is a fully regulated, qualifying investor alternative investment fund, and complies with the Alternative Investment Fund Managers Directive, according to Eaton Vance.
It is now available to investors in the UK and Ireland, with registrations to follow soon in other jurisdictions, according to the statement.
Based in Boston, Massachusetts and listed on the New York Stock Exchange, Eaton Vance’s roots date back to 1924. Its international subsidiary is based in London and regulated by the Financial Conduct Authority.
Top-down and bottom-up
The new multi-asset credit fund will be co-managed by portfolio managers Jeffrey Mueller, Justin Courgette and John Redding and will follow Eaton Vance’s top-down and bottom-up investment philosophy, according to the company.
Payson Swaffield, chief income investment officer of Eaton Vance, said that the introduction of the multi-asset credit fund to retail investors in a QIAIF structure was “a natural evolution” of the company’s position in leveraged credit.
Eaton Vance has been managing multi-asset credit vehicles since 2003, high yield bond investments since 1982 and floating rate loans since 1989. Global leveraged credit assets totalled US$45.3bn, as at 30 April.
Total assets under management for the company, which has offices in North America, Europe, Asia and Australia, stood at around US$318.7bn, also at the end of April.