BNP Paribas Asset Management (BNPPAM) has launched a smart beta strategy that invests in euro-denominated corporate bonds.
The launch of the Parvest QIS Multi-factor Credit Euro IG fund marks the expansion of BNPPAM’s range of smart beta strategies into fixed income, giving investors the ability to diversify their bond investments through a multi-factor quantitative approach.
Following the launch of factor strategies investing in equities (in 2008) and government bonds and currencies (in 2009), the new fund – currently valued at €108 million – applies this multi-factor approach to investment grade corporate bonds.
Olivier Laplénie, BNPPAM’s head of quantitative fixed income, said: “By combining our bond market expertise with that of our quantitative research teams, we have been able to identify various indicators from both the equity and credit markets and company balance sheets that are the main drivers of corporate bond returns.”
BNPPAM currently has €569 billion of assets under management.
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