Oddo BHF Asset Management has enlarged its dated total return bond fund range with the launch of ODDO BHF Haut Rendement 2025.
The France-domiciled fund, co-managed by the firm’s fixed income head Alain Krief and convertible bonds chief Olivier Becker, invests primarily in European high yield bonds (BB+ to CCC+) with maturity ending before 1 July 2026.
Gross yield to maturity of the portfolio at the time of its inception on 12 January 2018 was 4.5%. The portfolio is currently exposed at over 70% to B-rated bonds and bond maturity goes from 2021 to 2025.
“Given the current low interest rate environment, investors look ever more at high yield bonds. This trend can be seen through our investor surveys and we also stress that the pace of inflows in our funds focusing on this asset class is speeding up,” said Oddo BHF fixed income chief Alain Krief.
The company said that the latest dated fund launched in 2006, Oddo Haut Rendement 2023, has €1bn of assets under management. Oddo BHF AM managed €1.8bn in assets within its dated fund range as 31 December 2017.