Henderson has further extended its fixed income offering with the launch today of the Henderson Horizon Emerging Market Corporate Bond Fund and the Henderson Horizon Global Corporate Bond Fund. The funds will be managed by Steve Drew, Head of Emerging Market Credit and James Briggs, Fixed Income Fund Manager, respectively.
The Luxembourg registered funds will have UCITS status and be denominated in US dollars.
The Emerging Market Corporate Bond Fund’s objective is to deliver a total return in excess of its benchmark.
Steve Drew, Head of Emerging Market Credit, says, “Emerging market credit offers investors a unique investment proposition. They are paid an attractive risk premium because of the ‘emerging market’ label, despite the investment grade characteristics of much of the asset class. And while emerging market companies represent some of the largest and fastest-growing companies, their bonds are typically under-represented in investors’ portfolios.
“The fund uses a proprietary thematic and quantitative filtering process that allows the team to concentrate on bonds that offer genuine value. Risk management plays a key role in portfolio construction and the fund is notable for its active management of interest rate exposure, with duration not tied to the average duration of the benchmark.”
The Global Corporate Bond Fund also aims to deliver a total return above its designated benchmark, but by investing primarily in investment grade corporate bonds.
James Briggs, Fixed Income Fund Manager, says, “The launch of the Henderson Horizon Global Corporate Bond Fund is the culmination of eight years of globalising our fixed income capabilities. The fund benefits from a flexible investment approach, using the analytical strengths of a team based in both Europe and the US to identify opportunities across all geographies and all areas of the credit spectrum. The combination of conviction-led investing with a blend of macroeconomic analysis and fundamental security selection can allow the fund to exploit disparities in markets around the globe.”
Both managers will have access to a sixteen strong credit research team and will work closely with the interest rates’ team headed by James McAlevey.
Greg Jones, Head of EMEA Retail and Latin America, adds, “We are launching these Luxembourg based SICAV funds to meet the needs of our clients seeking sophisticated fixed income funds in the global and emerging market credit space. These funds complement sophisticated UCITS launches in the European and global high yield sectors over the last two years and are the result of the globalisation of our fixed income teams.”