Natixis AM launches short-term credit fund

Natixis Asset Management has launched Natixis Crédit Euro 1-3, an actively managed fund focusing on European short term credit.

According to Natixis AM, the European credit market currently offers attractive investment opportunities.

This is because short term credit has generated positive returns for ten years running, Natixis AM argued, adding that it is less volatile than the credit market as a whole.

The fund will primarily invest in European bonds from private issuers which are investment grade 1 with a one to three year maturity date.

It is aiming to outperform the Barclays Capital Euro Aggregate Credit Corporate 1-3 by 0.3% over a two year investment horizon.

The fund is aimed at both professional and non-professional investors.

Natixis AM will follow a top-down and bottom-up investment strategy to create a portfolio made up of 70-120 bond issuers across at least 10 sectors. Further diversification will be made possible by investing in high yield bonds.

Every two months a credit strategy committee will meet to discuss credit movements and preferences in terms of sectors to target in order to form a top down view of short-term credit.

A weekly committee run by credit managers and analysts specialising in different sectors (financials, defensives and cyclicals for example) will select issuers and bonds according to their bottom up views.

The fund will be managed by Cyrille Philippe (pictured) who joined Natixis AM in 2007, alongside a team of 11 managers specialising in credit. It is structured as a French fonds commun de placement (FCP).

Natixis Asset Management is the European arm of Natixis Global Asset Management. Based in Paris, it has nearly €300bn of assets under management.

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