French asset manager Axiom Alternative Investments has unveiled a long/short credit strategy that will target high yield debt instruments across Europe and the US.
Managed by the recently appointed Gilles Frisch, the Axiom Long Short Credit Fund aims to identify and capture the market “numerous” opportunities against “the backdrop an of uncertain credit cycle, combined with rising economic risks brought by the Covd-19 pandemic”.
In the current context, the firm has said that the long/short investment format seems the most optimal way to invest in the credit market at present.
The fund will focus on cash bonds across European and US High Yield markets whilst also using vanilla high yield derivatives, aiming to generate single digit returns. At its core, lies the belief that B credit is mispriced against double B credit this year.
David Benamou, Chief Investment Officer at Axiom Alternative Investments, said: “With an uncertain credit cycle and rising economic risks, we believe that this fund is perfectly placed to take advantage of the current market environment.”
Frisch who joined Axiom in 2019 as a portfolio manager and has over 26 years’ experience in the investment management industry and 21 years in high yield credit having joined from Swiss Life Asset Managers where he held the role of head of high yield.
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