Schroders has received a boost from strong inflows into the credit fund managed by CQS, which sits on its Ucits platform, GAIA, at a tim
Schroders has received a boost from strong inflows into the credit fund managed by CQS, which sits on its Ucits platform, GAIA, at a time when the platform has had to push back plans to launch more funds. This is due to the backlog in compliance following the introduction of UCITS IV legislation on 1 July. Eric Bertrand (pictured), director at Schroders New Finance Capital, told the press that Schroder GAIA CQS Credit had recently exceeded USD150million in AUM; it launched with USD20million in March this year. AUM has grown thanks to a combination of capital inflows and good performance, the fund having returned +7 per cent since inception. Bertrand was quoted as saying that he expected the firm to be more active in the New Year. The platform is hoping to launch a batch of new sub-funds heading into 2012 and potentially double GAIA’s assets, which currently stand at USD1billion.