Jupiter Asset Management has grown its fixed income offering with the launch of a high yield short duration bond fund.
An active strategy, the fund aims to deliver risk-adjusted returns over the medium to long-term. It is a sub-fund of Jupiter’s existing Global Fund Sicav.
Managed by Adam Darling, co-manager of the Jupiter Corporate Bond Fund and a senior high yield credit analyst on the firm’s fixed income strategy, the fund will focus on a “high-conviction” portfolio of around 75 bonds.
The High Yield Short Duration Bond Fund will invest at least 70% of its assets in global corporate high yield bonds that have an average maturity of no more than five years.
The core of the portfolio will be European, but the team will seek to optimise risk return by looking globally for the “most attractive opportunities, unconstrained by index weights”, according to the UK firm.
Darling will report to Ariel Bezalel, head of strategy, fixed income. In his management of the portfolio, he will draw on the experience of Jupiter’s fixed income team which already manages close to $4 billion (€3.6 billion) in high yield securities.
“In the prevailing global low yield environment, an optimised and actively managed portfolio of short duration high yield bonds represents a compelling risk adjusted investment,” Darling said.
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