French boutique launches first global bond fund
Paris-based boutique Amiral Gestion has announced the launch of the Sextant Bond Picking fund.
The fund, which was launched on 30 March 2017, invests in global bonds with no constraints in terms of segments and ratings.
It forms Amiral Gestion’s first bond fund as the French boutique is mostly renowned as a stock picker.
The Sextant Bond Picking fund is co-managed by David Poulet and Jacques Sudre – who joined from DNCA Investments in October 2016 – and seeks to outperform the Euro Constant Maturity Treasury (CMT) cash 3Y capitalised + 100 bps.
The portfolio management team looks among others at securities’ yield, credit, spread and interest rate risks.
According to fund literature, the fund can be fully invested in high yield securities.
It can also be invested up to 10% of its net assets in equities, in particular through merger arbitrage operations.
The fund’s exposure to emerging markets is limited to 30% while that of developed markets is comprised between 70% and 100%.
Amiral Gestion has around €2.5bn in assets under management.