UK-based manager PineBridge Investments has launched the PineBridge USD Investment Grade Credit Fund.
The fund seeks to provide attractive total return and capital preservation. It relies on a bottom-up research analysis of the credit universe in which the fund invests and diversifying the selection of underlying credits and sectors .
The fund is managed by the Developed Markets Investment Grade Credit team, which is led by Robert Vanden Assem, who heads the firm’s USD investment grade capabilities since 2001.
“We see several factors currently attracting investors to the US dollar investment grade credit market: more frequent periods of high market volatility, negative rates in developed markets and a Fed that is attempting to apply the brakes. Meanwhile, the European Central Bank and the Bank of Japan continue to step on the gas for monetary policy stimulus,” said Vanden Assem.
“In this environment, where trillions of dollars of government debt trade at negative yields, the USD investment grade credit market offers attractive yields through investments in high quality assets. We believe this fund could be a compelling way for investors to help meet their investment objectives.”
The Ireland-domiciled Ucits fund remains in the PineBridge Global Funds umbrella. It will be registered across Europe and will be available to institutional investors as well as via private banks and third party distributors.
PineBridge managed $82.6bn of assets as of 30 September 2016, of which over $7bn were in US investment grade fixed income.