New York-based credit manager MidOcean Credit Partners has partnered with London-based Lumyna Investments, part of Generali Investments, to launch the Lumyna – MidOcean Absolute Return Credit Ucits Fund.
The Luxembourg-domiciled Ucits fund is an actively managed short-duration long/short high yield strategy designed to deliver capital appreciation across market cycles.
Combining MidOcean’s credit research expertise with Lumyna’s alternative fund structuring and distribution capabilities, the fund aims to generate “attractive risk-adjusted returns by investing in short-dated high yield bonds”, while taking advantage of relative value opportunities and using hedges to manage risk.
The fund offers a typical net duration of 0–1.5 years and daily dealing.
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“The short-duration segment of the high yield market represents one of the most compelling areas of credit investing today, offering a rare combination of attractive yields and defensive characteristics that balance risk and reward,” said Ryan Dean, managing director and co-head of liquid credit at MidOcean. “Our approach seeks to capitalise on persistent inefficiencies in this space, balancing high-conviction bond selection with relative value trades and active risk management. The result is a strategy that aims to deliver resilient, all-weather returns within institutional portfolios.”
“This partnership with MidOcean reflects our commitment to broadening the Lumyna Ucits platform with attractive new strategies,” added Philippe Lopategui, CEO of Lumyna. “MARC offers investors a high-conviction credit strategy designed for today’s more volatile and fragmented markets, combining daily liquidity, disciplined risk management and MidOcean’s long-standing expertise.”
Paul Holmes, head of distribution at Lumyna, commented: “Investors are increasingly seeking solutions that can deliver income without excessive reliance on duration or broad market beta. The Lumyna – MidOcean Absolute Return Credit Ucits Fund addresses this demand by providing a focused, institutional-quality strategy that can serve as a portfolio diversifier.”
