Schroders has launched another internally-managed fund, Schroder GAIA Global Macro Bond, on its Ucits platform, Schroder GAIA (Global Alternative Investor Access), which is designed to gve investors easier access to hedge funds.
The fund aims to deliver an annualised gross excess return of eight per cent per annum over Libor using currency, sovereign and credit strategies, and is scheduled to launch in October 2012.
The fund will be managed by the Schroders fixed income (FI) multi-sector team, led by Bob Jolly, who joined Schroders in September 2011 as head of global macro and has 30 years’ industry experience. The FI multi-sector team (consisting of ten investment professionals augmented by seven European credit portfolio managers) will seek to generate consistent excess return through diversification of investment style, alpha source and time horizon.
Eric Bertrand, director of Schroder GAIA, says: “As a result of the synchronised global financial crisis and ensuing sovereign crisis, the western world is dominated by zero or near zero interest rates combined with decade low government bond yields, rising inflation and the prospect of developed countries defaulting. Against this backdrop, there has never been a better time to invest in a strategy that is global, flexible and uncorrelated to many long-only investment strategies. The launch of Schroder GAIA Global Macro Bond allows us to respond to demands that we are seeing from clients to this effect and utilise currency, credit and sovereign strategies to effectively harness opportunities that may occur through the market cycle.”
Schroders has four funds on the GAIA platform, two managed by external hedge fund managers (Schroder GAIA CQS Credit and Schroder GAIA Egerton Equity) and two managed internally (Schroder GAIA QEP Global Absolute and the new Schroder GAIA Global Macro Bond).