The UK arm of Nomura Asset Management has launched a European high-yield bond fund.
The Ireland-domiciled Ucits fund seeks to capture European high-yield bond market returns while minimising losses by identifying “strong horse” companies that can carry debt load through the economic cycle.
The Nomura Funds Ireland European High-Yield Bond Fund has a benchmark performance target of 2% per annum.
Portfolio manager Steven Rosenthal said: “We believe that European high-yield bonds have earned a place in an investor’s tactical allocation, offering an attractive portfolio diversification opportunity marked by high risk-adjusted yields, and low default rates.”
Available in other formats since its inception in 2012, Nomura’s European high-yield bond strategy has outperformed its benchmark each year with an annualised return of 9.3%.
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