Petercam Institutional Asset Management has launched a European high yield corporate bond fund, the Belgian investment firm has announced.
This latest launch is a Luxembourg-domiciled fund which principally invests in fixed or floating rate, short, medium and/or long term bonds and/or other debt securities.
These can include perpetual notes, subordinated bonds, zero-coupon bonds.
The first fact sheet for the fund indicates it currently holds 43 positions, as of the end of October 2013.
The main area of investment is industrials, which makes up nearly 40% of the sector exposure, while France is the largest geographic exposure.
A spokesperson for Petercam told Citywire Global: ‘We have always offered high yield bond funds, going back to 2000, and we also increased this in 2010 with the Euro HY short term fund’
‘We have now taken the opportunity to access another area of the sector which looks attractive through this European corporate bond fund.’