EFG Private Bank, the London-based subsidiary of EFG International, has launched a fixed income fund in conjunction with Stratton Street Capital.
This builds on a longstanding collaboration between the two firms in relation to various fixed income initiatives.
The New Capital Wealthy Nations Bond Fund is an Irish-domiciled Ucits fund with daily dealing, which aims to provide a superior risk/reward profile and a relatively high yield. The model portfolio of the new fund has a gross redemption yield of eight per cent while maintaining an average credit quality of Single A.
EFG Private Bank’s chief investment officer, Mozamil Afzal (pictured), will provide high-grade fixed income input, as well as risk and duration management. Stratton managers Mark Johns and Andy Seaman will manage the investment process.
In recent years the fiscal position of many countries has deteriorated sharply. The managers of the Wealthy Nations Bond Fund believe that investors should focus their fixed income portfolios on the world’s major creditors, not debtors. The fund will buy purely investment grade bonds from major creditor countries and companies within these countries. The net foreign asset position of each country will be a key element in the investment process.
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