Cairn Capital in collaboration with Mediobanca has launched multi-asset credit (MAC) Ucits fund, Cairn Mediobanca Strata Ucits Credit fund (Strata Ucits), hosted on Mediobanca Management Company's fund platform, Palladium FCP.
Strata Ucits is a daily liquidity, long-biased fund, predominantly investing in European credit. The fund is actively managed and non-benchmarked.
The fund will be managed by Fabio Vanerio, lead MAC portfolio manager, reporting to Andrew Burke, CIO. The manager allocates dynamically to four credit asset classes depending on their relative attractiveness with a hedging strategy that aims to preserve capital and reduce volatility. Each credit asset class is managed by a specialist portfolio management team, focused on bottom-up credit selection with a separate Allocation Committee focused on top-down portfolio construction and hedging. The fund will also hedge risks from interest rate duration and currencies, offering exposure to pure European credit spread.
Cairn Capital was an early provider of MAC, managing various MAC mandates since 2011. Strata Ucits will follow a similar investment strategy to its monthly liquidity alternative investment fund, Cairn Strata Credit fund, which was launched in January 2015.
The Palladium FCP platform, which is domiciled in Luxembourg, makes the fund easily available to different distribution channels and platforms including Allfunds Bank. Institutional and retail share classes are available in EUR, GBP and USD.