PineBridge Investments has launched a Ucits dollar-denominated investment grade credit vehicle.
The Investment Grade Credit fund aims to offer capital protection and total returns and is managed by Robert Vanden Assem who has overseen the firm’s US dollar investment grade capabilities since 2001.
The fund is domiciled in Ireland and registered across Europe. It will be available to institutional investors and retail investors via private banks and third-party distributors.
Vandem Assem said the firm saw several factors that attract investors to investment grade credits denominated in US dollars, including market volatility, negative rates in developed markets, and a Federal Reserve 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 – in this environment, where trillions of dollars of government debt trade at negative yields, the [US dollar] investment grade credit market offers attractive yields through investments in high quality assets,” Vandem Assem said.
PineBridge manage over $7 billion (€6.3 billion) in US investment grade fixed income assets.
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