Mon, 17/03/2014 - 06:02
After launching its new brand and announcing a fresh start with the shareholder New York Life Investment Management last month, Candriam is in the process of renaming all of its funds.
This process, which should be completed by the summer 2014, begins with the alternative investment fund range.
Fabrice Cuchet, member of the executive committee and head of alternative investment strategies at Candriam, says: "With systemic risks retreating since Mario Draghi's speech in July 2012 and, as a corollary, the return of fundamentals as the primary market driver, conditions are supportive for conviction-based and alternative investment strategies. Uncertainties remain on possible interest rate hikes, but this should not impact performance. On the contrary. History has shown periods of rising long rates to be supportive for alternative investment strategies, which fully serve their purpose of diversifying elements of the portfolio.
"Alternative investment strategies remain a priority for Candriam in 2014. We have already seen renewed investor interest especially for our long-short credit and index arbitrage strategies, which offer an attractive risk/reward profile; and we are working on new strategies linked to new funds in the pipeline for the coming quarters."
Mutual funds domiciled in France will now be called Candriam, as will Belgian-law funds based on traditional strategies (compared to alternative investment strategies). Open-end mutual funds under French law will be renamed at the end of April 2014. The names of Luxembourg-law funds will be changed in phase three over the course of the year.
The Dexia Index Arbitrage becomes Candriam Index Arbitrage. With over EUR1.4bn in assets under management, this UCITS IV fund, which recently celebrated its 10th anniversary, is based on an investment process centred on discretionary statistical arbitrage strategies.
Dexia Long Short Credit becomes Candriam Long Short Credit. Launched in October 2009, Candriam Long Short Credit is an absolute return UCITS IV fund. Its investment strategy takes advantage of investment opportunities available on the credit markets. The fund uses arbitrage strategies and directional strategies (long and short) on corporate bonds and credit derivatives.
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