Spanish value boutique Bestinver has launched a new mixed income fund primarily investing in high yield bonds and aimed at institutional investors.
Bestinver Bonos Institucional has a four years' maturity and will invest at least 50% of its portfolio in high yield bonds issued by European companies, but also in subordinated debt and other type of bonds. A maximum of 20% of the fund's portfolio will be invested in convertible bonds (CoCos).
The Fund will be managed by Bestinver's fixed income team led by Eduardo Roque, made up by Benito Artiñano, Joaquín Álvarez-Borrás, and Miguel Molina.
Although the new fixed income vehicle has a minimum initial investment of €20,000, it will enable participants to enter the fund just with €100 until the 15 of December.