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Lombard Odier hands unconstrained mandate to bond veteran

Lombard Odier hands unconstrained mandate to bond veteran

Lombard Odier has appointed Franklin Templeton Investments to manage a total return-like fund under its open architecture rage PrivilEdge, the private bank has announced.

The PrivilEdge Franklin Flexible Euro Aggregate Bond fund was launched in May 2017 and is managed by Citywire + rated David Zahn, who is head of European fixed income at Franklin Templeton.

The unconstrained bond fund invests across the European fixed income market including government bonds, investment grade corporates and high yield bonds.

It is similar to the €545 million Franklin European Total Return, which is managed by Zahn alongside John Beck.

Sub-asset class, duration and currency positioning are flexible and can be adjusted to take advantage of market opportunities and provide downside protection.

Most of the bonds will be denominated in euros, but the fund can hold up to 30% in other European currencies or bonds denominated in other European currencies.

Commenting on the launch, Zahn said: ‘We think that the dispersion in bond yields between some eurozone countries should bring potential opportunities for investors willing to be flexible in their allocations.

'We thus strongly believe that an unconstrained and flexible approach is a key element for every investors’ core European fixed income portfolio.'

The fund is available for sale in France, Germany, Spain, Switzerland, Liechtenstein, Belgium, the Netherlands and the UK.

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