Legal & General Investment Management (LGIM) has launched a multi-strategy credit fund that will employ the fund manager’s best investment ideas in assets spanning high yield and emerging markets.
The fund currently aims to return 5% a year over the return on cash, before fees, over a rolling five-year period.
Called L&G Multi-Strategy Credit Fund, is aimed at institutions and is domiciled in Luxembourg as a Sicav, though a UK unit-linked life insurance version will be launched for defined benefit pension schemes in Britain.
It is managed by Omar Saeed, senior macro credit fund manager at LGIM, and is a global best ideas credit fund capturing relative value opportunities. It aims to provide growth and sustainable cashflows at relatively low risk, says the firm.
The fund is unconstrained by an index and manages downside risk with a proprietary hedging overlay.
Anton Eser, co-head of global fixed income at LGIM, says: “This style meets the evolving needs of our pension fund clients as their fixed income allocations increasingly require a more flexible, benchmark agnostic approach.”
©2015 funds europe
