Axa Investment Managers has launched a fixed-term high-yield European bond fund.
The Axa IM Maturity 2023 Fund, to be managed by senior portfolio manager Yves Berger, will primarily invest in businesses with “solid business fundamentals”.
Axa’s new fund follows the launch of a Maturity 2020 fund in October 2015 and a Maturity 2022 fund in November 2016.
“Our strategy with this fund is to invest in securities we believe we can hold for the full term of the fund and to diversify the portfolio as much as possible to minimise the risk of defaults,” said Berger.
“Our approach of investing with a fixed maturity aims to help clients tackle the ongoing challenge of low yields and volatile markets. By staying invested for the full six-year life of the fund investors can pay less attention to the interim price movements.”
In 2023 all bonds will either be repaid or sold, in the absence of defaults.
The fund is available to retail and institutional investors in Belgium, France and Spain and is available to institutional investors only in Italy and the UK.
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